The National Futures Association (NFA) has ordered VBI Company, a former NFA Member introducing broker headquartered in Sioux Falls, South Dakota, not to reapply for NFA membership or apply for principal status with an NFA Member at any time in the future. The NFA also ordered Peter Mark Vanden Berge, a former associated person and principal of VBI, not to apply for NFA membership or reapply for NFA associate membership or principal status with an NFA Member for six months. The decision was issued by an NFA Hearing Panel and follows a complaint from NFA’s Business Conduct Committee and a settlement offer from VBI and Vanden Berge in which they neither admitted nor denied the complaint’s allegations. The complaint alleged that VBI failed to maintain required pre-trade communications in violation of NFA Compliance Rule 2-10(a) and that VBI and Vanden Berge failed to diligently supervise the firm in violation of NFA Compliance Rule 2-9(a); the Hearing Panel found that Vanden Berge committed the violation alleged against him.
National Futures Association 2025-11-05
National Futures Association permanently bars VBI Company from reapplying for membership and restricts Peter Mark Vanden Berge for six months
The National Futures Association (NFA) has permanently barred VBI Company, a former member, from reapplying for membership or principal status, and imposed a six-month ban on Peter Mark Vanden Berge, a former associated person. This enforcement action follows a complaint alleging violations of NFA Compliance Rules 2-10(a) and 2-9(a) related to pre-trade communications and supervision, which VBI and Vanden Berge settled without admitting or denying the allegations.