The U.S. National Futures Association (NFA) has announced that it has ordered Richard Alexander Acosta to not apply for NFA membership status for five years, and not to act as a principal of an NFA Member for seven years. Acosta is a former NFA Associate and a previous associated person and principal of Bit5ive Mining Fund Advisor, LLC (Bit5ive Advisor), a former NFA Member commodity pool operator located in Doral, Florida.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA’s Business Conduct Committee and a settlement offer submitted by Acosta, in which he neither admitted nor denied the allegations in the Complaint. In its Decision, the Panel found that Acosta willfully provided false and misleading information to NFA and failed to cooperate promptly and fully with the NFA.
In September 2023, NFA issued an emergency cryptocurrency/nfa-takes-emergency-action-against-bit5ive-and-its-principal-richard-acosta/”…
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