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Check broker fraud online
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December 17, 1996: 10:30 a.m. ET
Futures group gives you background on commodities brokers for free
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NEW YORK (CNNfn) - If you have ever had a question about a commodities broker or firm, the National Futures Association might have the answer.
The self-regulatory arm of the commodities industry has launched an electronic mail service that lets investors run background checks on investment salesman and firms at no cost, according to NFA spokesman Trevor Jones. The group has records on 10,000 firms and 150,000 individuals employed in the futures industry -- information you can now access with a few keystrokes.
Information gathered from 13 futures exchanges and trade associations -- from the Chicago Board of Trade to the New York Mercantile Exchange -- details disciplinary action taken by the NFA against a salesperson or firm since the group's founding in 1982 and actions taken by the Commodity Futures Commission since 1975.
Investors can e-mail questions to the NFA's in Chicago at inquiry@nfa.futures.org or by accessing the group's Web site. They can also telephone the NFA at (800) 676-4NFA. Responses arrive via next-day "snail" mail.
-- David Rynecki
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