CFTC SEEKS REVOKING OF REGISTRATION OF INTRODUCING BROKER

FROM:  COMMODITY FUTURES TRADING COMMISSION 
CFTC Seeks to Revoke Registration of Introducing Broker iFinix Futures, Inc.

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today filed a Notice of Intent (Notice) to revoke the registration of iFinix Futures, Inc. (iFinix), a registered independent Introducing Broker based in Plainview, New York. iFinix has also done business under the name Pro-Active Futures.

The CFTC’s Notice alleges that iFinix is subject to statutory disqualification from CFTC registration based on a default judgment and permanent injunction Order entered by the U.S. District Court for the Eastern District of New York on September 16, 2013 (see CFTC News Release 6711-13). The Order found, in relevant part, that iFinix and its senior executive officer, Connecticut resident Benhope Marlon Munroe, willfully made materially false statements to the National Futures Association (NFA), the futures industry self-regulatory organization. Among other things, the Order permanently prohibits iFinix from making any false, fictitious, or fraudulent statements or representations, as charged, and from applying for registration or claiming exemption from registration with the CFTC. The Order also prohibits iFinix from trading on, or subject to the rules of, any registered entity. The Order required iFinix and Munroe to pay a $1,260,000 civil monetary penalty.

The CFTC thanks the NFA for its assistance.

CFTC Division of Enforcement staff members responsible for this case are Lara Turcik, Douglas K. Yatter, Christopher Giglio, Lenel Hickson, Jr., and Manal M. Sultan.