October 16, 2014

CFTC Revokes Registration of iFinix Futures, Inc. Based on Federal Court’s Permanent Injunction

Washington, DC — The U.S. Commodity Futures Trading Commission (CFTC) announced today that it has revoked the registration of iFinix Futures, Inc. (iFinix), a Delaware corporation with its principal place of business in Plainview, New York. iFinix, which also did business under the name Pro-Active Futures, had been registered with the CFTC as an independent Introducing Broker.

The CFTC initiated revocation proceedings against iFinix on February 20, 2014 (see CFTC News Release 6862-14), following the CFTC’s successful injunctive action against iFinix and its principal, Benhope Marlon Munroe, in the U.S. District Court for the Eastern District of New York (see CFTC News Release and Order 6711-13). On September 8, 2014, CFTC Judgment Officer Philip V. McGuire issued an Initial Decision on Default finding that iFinix is subject to statutory disqualification from CFTC registration based on the Order for default judgment and permanent injunction entered in the CFTC’s injunctive action, which (1) found that iFinix and Munroe made false statements and submitted false documents to the National Futures Association (NFA); and which (2) enjoined iFinix and its principal, Munroe, from making further false statements in violation of the Commodity Exchange Act, as charged, and from trading or applying for registration. That order also required iFinix and Munroe to pay, jointly and severally, a civil monetary penalty of $1.26 million. (See CFTC’s injunctive action, CFTC Press Release and Complaint 6370-12, September 27, 2012.)

The Judgment Officer’s Initial Decision on Default, revoking the registration of iFinix, became a Final Order of the CFTC on October 8, 2014.

The CFTC thanks the NFA for its assistance in this matter.

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

Media Contact
Dennis Holden
202-418-5088

Last Updated: October 20, 2014