NFA permanently bars introducing broker 

nfa log

National Futures Association (NFA) has permanently barred Chicago, Ill., introducing broker Vankar Trading Corp. (Vankar) from membership and from acting as principal of an NFA Member. In addition, NFA has barred John S. Karvelas, sole principal and an associated person of Vankar, from acting as a principal of an NFA Member for 10 years, and ordered Karvelas to pay a $15,000 fine.

The Decision, issued by NFA’s Business Conduct Committee (BCC), is based on a Complaint authorized by the BCC on February 24, 2016, and a settlement offer submitted by Vankar and Karvelas. The Complaint alleged that Vankar failed to maintain required minimum adjusted net capital and current and accurate books and records, and that Vankar and Karvelas failed to supervise the firm’s operations.

Source: NFA

Leave a Comment


Broker Cyprus TopFX