The National Futures Association (NFA) has ordered Rimar Capital Limited Partnership (Rimar LP), a former NFA Member commodity pool operator located in Netanya, Israel, not to reapply for NFA membership or act as a principal of an NFA Member at any time in the future.

NFA also ordered Ryan Philip Gordon, a prior associated person and principal of Rimar LP and former NFA Associate, not to reapply for NFA membership or act as a principal of an NFA Member for two years. He will have to pay a $75,000 fine if he seeks NFA membership or principal status following the two-year period.

The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA’s Business Conduct Committee (BCC) and a settlement offer submitted by Rimar LP and Gordon, in which they neither admitted nor denied the allegations in the Complaint.

In the Complaint, the Committee alleged that Rimar LP and Gordon failed to observe high standards of commercial honor and just and equitable principles of trade by not adhering to NFA requirements involving reporting principals and by allowing an unregistered individual to control Rimar LP, in violation of NFA Compliance Rule 2-4.

The Committee also alleged that Rimar LP failed to promptly report principals of the firm to NFA, in violation of NFA Registration Rule 208.

In its Decision, the Hearing Panel found that Rimar LP and Gordon committed the violations alleged against them in the Complaint.