Release Number 8597-22
CFTC Orders Wisconsin Resident and Company to Pay Over $190,000 for Failing to Register as an Introducing Broker and Other Violations
September 26, 2022
Washington DC — The Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against Jason Gospodarek (Gospodarek) and Quantum Financial Network, LLC (Quantum Financial), both located in Wisconsin, for their failure to register as an introducing broker, and against Gospodarek for his failure to register as an associated person of a commodity trading advisor, as required by the Commodity Exchange Act (CEA). Gospodarek is Quantum Financial’s principal and only employee.
The order requires Gospodarek and Quantum Financial to pay a $100,000 civil monetary penalty. The respondents will also be required to pay $92,894.85 in disgorgement and requires them to cease and desist from further CEA violations.
According to the order, from July 2017 to January 2019, without being registered with the CFTC, Quantum Financial acted as an introducing broker on behalf of two overseas, leveraged foreign currency (forex) and leveraged precious metals trading platforms. The company introduced eight commodity pools comprised of more than 150 U.S. retail customers to the trading platforms, and received compensation from them. As its controlling person, Gospodarek is liable for those violations.
Additionally, the order finds that from July 2017 to January 2019, without being registered with the CFTC, Gospodarek acted as an associated person of a commodity trading advisor (CTA) by assisting the CTA in soliciting customers and engaging in the business of advising customers as to the advisability of trading in leveraged forex and leveraged precious metals through webinar appearances, videos, and responses to individual customer questions on behalf of the CTA. Gospodarek also identified and formulated leveraged forex and leveraged precious metals trading strategies that he promoted to customers using the same means.
In accepting the settlement offer from Gospodarek and Quantum Financial, the CFTC recognizes their substantial cooperation during the Division of Enforcement’s investigation of this matter.
Division of Enforcement staff members responsible for this action are Harry E. Wedewer, K. Brent Tomer, Mary Lutz, Lenel Hickson, Jr., and Manal M. Sultan.