Release Number 8598-22
CFTC Seeks to Revoke Registrations of Commodity Trading Advisor and Its Principal and Associated Person
September 27, 2022
Washington, D.C. – The Commodity Futures Trading Commission today filed a Notice of Intent (notice) to revoke the registrations of Fintech Investment Group Inc., (Fintech), a registered commodity trading advisor (CTA) based in Florida, and its principal and associated person (AP), Alan Friedland of Florida (collectively, respondents).
The CFTC’s notice alleges that Fintech and Friedland are subject to statutory disqualification from CFTC registration based on an order and permanent injunction entered by the U.S. District Court for the Middle District of Florida on March 24 (final order). [See CFTC Press Release No. 8510-22] The final order, as consented to by the respondents in a proposed consent order, permanently enjoined each respondent from acting as a CTA or AP thereof and in any other capacity requiring registration or exemption.
The court also found and concluded that both respondents violated multiple antifraud provisions of the Commodity Exchange Act and CFTC regulations by adopting the parties’ agreed findings of fact and conclusions of law in the parties’ proposed consent order.
The court’s permanent injunction and findings constitute grounds for revoking the respondents’ registrations.
The CFTC thanks the NFA and the Financial Markets Authority of New Zealand for their assistance in this matter.
The Division of Enforcement staff members responsible for this case are Janine Gargiulo, Jacob Mermelstein, Katherine Rasor, Christopher Giglio, K. Brent Tomer, Lenel Hickson, Jr., and Manal M. Sultan. Former Division of Enforcement staff member Gabriella Geanuleas also provided assistance in the case.