Nov 27, 2023 On August 15, 2023, the Business Conduct Committee (BCC) of the National Futures Association (NFA) issued a formal Complaint against Braemar Securities LTD (Braemar). The allegations set forth in the Complaint pertain to Braemar’s purported failure to maintain requisite communication records, thereby raising concerns over potential breaches of NFA Compliance Rule 2-10(a). Furthermore, the Complaint accuses Braemar of disclosing confidential customer information, suggesting a possible violation of NFA Compliance Rule 2-26. Lastly, the Complaint asserts that Braemar failed to fulfill its supervisory obligations, indicative of a potential violation of NFA Compliance Rule 2-9(a). Subsequently, on September 14, 2023, Braemar submitted an Answer to the Complaint. Following due deliberation, on November 15, 2023, the NFA’s Hearing Panel issued a decisive Decision, wherein it accepted Braemar Securities’ settlement offer. Consequently, Braemar Securities has been directed to remit a fine amounting to $140,000. The rule violations cited in this matter encompass: Rule C.R.2-10: Recordkeeping Rule C.R.2-26: Violation of CFTC 1.33/1.55/1.56 by FCM/IB Rule C.R.2-9(a): Supervision of Employees The pertinent committees involved in adjudicating this case include the Business Conduct Committee and the Hearing Committee. The nature of the actions under consideration falls within the realms of General Conduct and Office Recordkeeping. As a consequence of these proceedings, Braemar Securities faces a financial penalty of $140,000.