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FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022
EXHIBIT B
FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022
NATIONAL FUTURES ASSOCIATION FILED
BEFORE THE
BUSINESS CONDUCT COMMITTEE -
AUG 6 2013
NATIONALFUTURESASSOCIATION
In the Matter of ) LEGALDOCKERNG
)
FIDELITY PLANNING GROUP )
(NFA ID #305431), )
)
and ) NFA Case No. 13-BCC-006
)
TERRY JAMES DORRITY )
(NFA ID #279163), )
)
Respondents. )
D_ECISION
reviewed the Complaint issued this Committee in the above-
Having by
captioned proceeding, and the Offer of Settlement (Offer) submitted by Fidelity Planning
Group (FPG) and Terry James Dorrity (Dorrity), and having accepted the Offer, the
Committee hereby issues the following Decision.
ALLEGED VIOLATIONS OF NFA REQUIREMENTS
On April 23, 2013, this Committee issued a Cornplaint against FPG, a
commodity trading advisor and introducing broker National Futures Association (NFA)
Member, and Dorrity, an associated person (AP) and principalof FPG and an NFA
Associate. The Complaint alleged that FPG and Dorrity engaged in excessive trading in
order to churn customer accounts and thereby cheat and defraud customers, in violation
of NFA Compliance Rules 2-2(a) and 2-4. The Complaint further alleged that FPG and
Dorrity used misleading sales solicitations and mishandled acustomer account, in
violation of NFA Compliance Rules 2-29(a) and 2-4, respecfvely. Finally, the Complaint
FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022
alleged that FPG and failed to in violation of NFA Compliance Rule 2-
Dorrity supervise,
9(a).
II
OFFER OF SETTLEMENT
FPG and Dorrity submitted an Offer whereby FPG agreed to withdraw
from NFA membership within 30 days of the date of a Decision accepting itsOffer. FPG
further agreed that itwould never again apply for NFA membership or principal status
with any NFA Member.
Dorrity agreed to withdraw from NFA associaternembership and principal
status with any NFA Member within 30 days of the date of a Decision accepting his
Offer and, thereafter, not apply for NFA membership, associate membership, or
principal status with any NFA Member for a period of eight years from the date of his
withdrawal. Dorrity further agreed that, in the event he attains NFA membership,
associate membership, or principal status with any NFA Mernber at any time in the
future, he shall a) pay a fine of $100,000 to NFA within 30 days of attaining such status;
b) refrain from managing, directing, or exercising discretionary trading authority over
any accounts, either pursuant to a power of attorney, a letterof direction, or verbal
authorization from a customer; and c) refrain from acting in any supervisory capacity
with an NFA Member or acting as the sole AP and listed principal of an NFA Member.
Ill
FINDINGS
Having considered the matter and having accepted the Offer submitted by
FPG and Dorrity, the Business Conduct Committee (BCC) finds that FPG and Dorrity
engaged in excessive trading in order to churn customer accounts and thereby cheat
2
FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022
and defraud customers, in violation of NFA Compliance Rules 2-2(a) and 2-4. The BCC
further finds that FPG and Dorrity used misleading sales solicitations and mishandled a
customer account, in violation of NFA Compliance Rules 2-29(a) and 2-4, respectively;
and that FPG and failed to in violation of NFA Compliance Rule 2-
Dorrity supervise,
9(a).
IV
PENALTY
Having considered the matter and having accepted the Offer submitted by
FPG and Dorrity, this Committee orders FPG to withdraw from NFA membership within
30 days of the date of this Decision and, thereafter, never again apply for NFA
membership or principal status with any NFA Member.
This Committee orders Dorrity to withdraw from NFA associate
membership and principal status with any NFA Member within 30 days of the date of
this Decision and, thereafter, not apply for NFA membership, associate membership, or
principal status with any NFA Member for a period of eight years from the date of his
withdrawal.
In the event Dorrity attains NFA membership, associate membership, or
principal status with any NFA Member at any time in the future, then, in any such event,
Dorrity is ordered by this Committee to a) pay a fine of $100,000 to NFA within 30 days
of attaining NFA membership status or principal status with an NFA Member; b)
permanently refrain from managing, directing, or exercising discretionary trading
authority over any accounts, either pursuant to a power of attorney, a letterof direction,
or verbal authorization'from a customer; and c) permanently refrain from acting in any
3
FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246
NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022
supervisory capacity with an NFA Mernber or acting as the sole AP and listed principal
of an NFA Member.
V
INELIGlBILITY
Pursuant to the provisions of Commodity Futures Trading Commission
(CFTC) Regulation 1.63, this Decision and the sanctions imposed herein render Dorrity
permanently ineligible to serve on a disciplinary committee, arbitration panel, oversight
panel or governing board of any self-regulatory organization, as that term is defined in
CFTC Regulation 1.63.
. NATIONAL FUTURES ASSpC31ATION
BUSINES4- NDUCT 90Ñl ITTEE
Ch ir(erson
Dorrity,(6,20.13)docx)
(m/ece/decisions/2013/Decision-FPG,
4
Preview
FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022 EXHIBIT B FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022 NATIONAL FUTURES ASSOCIATION FILED BEFORE THE BUSINESS CONDUCT COMMITTEE - AUG 6 2013 NATIONALFUTURESASSOCIATION In the Matter of ) LEGALDOCKERNG ) FIDELITY PLANNING GROUP ) (NFA ID #305431), ) ) and ) NFA Case No. 13-BCC-006 ) TERRY JAMES DORRITY ) (NFA ID #279163), ) ) Respondents. ) D_ECISION reviewed the Complaint issued this Committee in the above- Having by captioned proceeding, and the Offer of Settlement (Offer) submitted by Fidelity Planning Group (FPG) and Terry James Dorrity (Dorrity), and having accepted the Offer, the Committee hereby issues the following Decision. ALLEGED VIOLATIONS OF NFA REQUIREMENTS On April 23, 2013, this Committee issued a Cornplaint against FPG, a commodity trading advisor and introducing broker National Futures Association (NFA) Member, and Dorrity, an associated person (AP) and principalof FPG and an NFA Associate. The Complaint alleged that FPG and Dorrity engaged in excessive trading in order to churn customer accounts and thereby cheat and defraud customers, in violation of NFA Compliance Rules 2-2(a) and 2-4. The Complaint further alleged that FPG and Dorrity used misleading sales solicitations and mishandled acustomer account, in violation of NFA Compliance Rules 2-29(a) and 2-4, respecfvely. Finally, the Complaint FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022 alleged that FPG and failed to in violation of NFA Compliance Rule 2- Dorrity supervise, 9(a). II OFFER OF SETTLEMENT FPG and Dorrity submitted an Offer whereby FPG agreed to withdraw from NFA membership within 30 days of the date of a Decision accepting itsOffer. FPG further agreed that itwould never again apply for NFA membership or principal status with any NFA Member. Dorrity agreed to withdraw from NFA associaternembership and principal status with any NFA Member within 30 days of the date of a Decision accepting his Offer and, thereafter, not apply for NFA membership, associate membership, or principal status with any NFA Member for a period of eight years from the date of his withdrawal. Dorrity further agreed that, in the event he attains NFA membership, associate membership, or principal status with any NFA Mernber at any time in the future, he shall a) pay a fine of $100,000 to NFA within 30 days of attaining such status; b) refrain from managing, directing, or exercising discretionary trading authority over any accounts, either pursuant to a power of attorney, a letterof direction, or verbal authorization from a customer; and c) refrain from acting in any supervisory capacity with an NFA Member or acting as the sole AP and listed principal of an NFA Member. Ill FINDINGS Having considered the matter and having accepted the Offer submitted by FPG and Dorrity, the Business Conduct Committee (BCC) finds that FPG and Dorrity engaged in excessive trading in order to churn customer accounts and thereby cheat 2 FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022 and defraud customers, in violation of NFA Compliance Rules 2-2(a) and 2-4. The BCC further finds that FPG and Dorrity used misleading sales solicitations and mishandled a customer account, in violation of NFA Compliance Rules 2-29(a) and 2-4, respectively; and that FPG and failed to in violation of NFA Compliance Rule 2- Dorrity supervise, 9(a). IV PENALTY Having considered the matter and having accepted the Offer submitted by FPG and Dorrity, this Committee orders FPG to withdraw from NFA membership within 30 days of the date of this Decision and, thereafter, never again apply for NFA membership or principal status with any NFA Member. This Committee orders Dorrity to withdraw from NFA associate membership and principal status with any NFA Member within 30 days of the date of this Decision and, thereafter, not apply for NFA membership, associate membership, or principal status with any NFA Member for a period of eight years from the date of his withdrawal. In the event Dorrity attains NFA membership, associate membership, or principal status with any NFA Member at any time in the future, then, in any such event, Dorrity is ordered by this Committee to a) pay a fine of $100,000 to NFA within 30 days of attaining NFA membership status or principal status with an NFA Member; b) permanently refrain from managing, directing, or exercising discretionary trading authority over any accounts, either pursuant to a power of attorney, a letterof direction, or verbal authorization'from a customer; and c) permanently refrain from acting in any 3 FILED: LEWIS COUNTY CLERK 01/24/2022 03:47 PM INDEX NO. EFCA2017-000246 NYSCEF DOC. NO. 53 RECEIVED NYSCEF: 01/24/2022 supervisory capacity with an NFA Mernber or acting as the sole AP and listed principal of an NFA Member. V INELIGlBILITY Pursuant to the provisions of Commodity Futures Trading Commission (CFTC) Regulation 1.63, this Decision and the sanctions imposed herein render Dorrity permanently ineligible to serve on a disciplinary committee, arbitration panel, oversight panel or governing board of any self-regulatory organization, as that term is defined in CFTC Regulation 1.63. . NATIONAL FUTURES ASSpC31ATION BUSINES4- NDUCT 90Ñl ITTEE Ch ir(erson Dorrity,(6,20.13)docx) (m/ece/decisions/2013/Decision-FPG, 4