Regulatory sins haunt Christ Investment Service

The National Futures Association suspended Christ Investment Service LLC, a San Francisco-based introducing broker, for allegedly illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions, according to the association. Also, CIS was accused with providing false and misleading statements about its customer business, failing to produce books and records to NFA, and failing to cooperate with NFA. The suspension, which becomes effective immediately, prohibits CIS from acting in any manner which requires registration under the Commodity Exchange Act. CIS is also prohibited from accepting any additional customer accounts and is prohibited from paying out or transferring any funds without prior NFA approval. The suspension will remain in effect until CIS demonstrates that it is in complete compliance with all NFA requirements.