NFA Orders Metanoeo Capital and Principal to Withdraw from Membership

The US National Futures Association (NFA) has ordered Metanoeo Capital LLC, a commodity trading advisor member based in Fort Collins, Colorado, to withdraw from NFA membership and not reapply for membership or principal status at any time in the future. The NFA also ordered Joshua David Schuler, an associated person and principal of the firm, to withdraw from and not reapply for NFA membership or principal status.

The decision was issued by the NFA's Business Conduct Committee (BCC) based on a complaint and a settlement offer submitted by Metanoeo and Schuler, who neither admitted nor denied the allegations.

In its complaint, the BCC alleged that the firm and Schuler deceived customers by reporting fabricated trading activity from a fictitious account on its website. Customers believed this information reflected real futures trading and actual net liquidating values representing funds they could withdraw, in apparent violation of NFA Compliance Rule 2-2(a).

The BCC also charged them with willfully submitting materially false or misleading information to the NFA about the firm's CTA status and activities, in apparent violation of NFA Compliance Rule 2-2(f).