CFTC Seeks to Revoke Registrations of Fintech Investment Group Inc. and Its Principal and Associated Person

The Commodity Futures Trading Commission (CFTC) yesterday 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). 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.