NFA bars Ft. Lauderdale firm

The National Futures Association has permanently barred International Commodity Clearing, a futures commission merchant located in Ft. Lauderdale, Fla., from NFA membership.
NFA also suspended Steven I. Zander, ICC’s principal, from NFA membership and from acting as a principal of an NFA Member for one year.
The decision, which was issued by NFA’s Hearing Panel, is based on a complaint filed in March 2006 and a settlement offer submitted by ICC and Mr. Zander.
The complaint charged that ICC and Mr. Zander failed to supervise ICC’s guaranteed introducing brokers.
Additionally, ICC was charged with making deceptive, misleading and high-pressured sales solicitations; providing false and misleading information to NFA; failing to supervise; encouraging a customer to borrow money to fund his account and allowing an unregistered individual to solicit accounts.