NFA fines California firm $100,000

The National Futures Association has ordered Forex International Investments Inc. and its principals, Imran Firoz and Alex Dekhtyar, to pay a $100,000 fine for several violations.

The National Futures Association has ordered Forex International Investments Inc. and its principals, Imran Firoz and Alex Dekhtyar, to pay a $100,000 fine for several violations.
The Irvine, Calif.-based firm was accused of failing to make timely filings disclosing its principals and for not providing its customers with timely trading information and failed to initiate an adequate anti-money laundering program.
FINI, a Futures Commission Merchant and Forex Dealer Member, was also accused of using misleading promotional material.
In addition, the Hearing Panel found that FINI, Mr. Firoz and Mr. Dekhtyar failed to supervise their employees in the conduct of their foreign currency futures and options activities.
In addition to the fine, FINI must maintain adjusted net capital equal to or more than $2,000,000 and shall not use any promotional material without prior NFA approval.
Furthermore, any entity that solicits the public to do business with or through FINI must use only NFA-approved promotional material.