It’s been a rough year for the futures industry. Between the MF Global bankruptcy and fraud at PFGBest, investors have had their faith shaken in a system that had, for years, been considered beyond reproach. These events didn’t just unnerve investors, though. It also highlighted what many in the industry have known for years- the NFA needs a shake up.
We don’t need to be audited by recent college grads who may or may not understand how to calculate a compounded rate of return. We don’t need to be subjected to promotional material reviews that have all the consistency of Russian Roulette. We don’t need the client facing members of the industry to be represented by large firms focused on institutional business and unmotivated to improve the efficiency and efficacy of the organization. We don’t need to be led by people who missed fraud being perpetrated by PFGBest for twenty full years.
What we need is someone who not only knows the business, but isn’t afraid of a fight when necessary. Jeff Malec is that fighter.
I’ve known Jeff for 14 years, and we founded Attain together in 2002. He is a consummate professional with a peerless understanding of our industry, but that’s not why you want him on the NFA Board of Directors. You want him on the Board because he knows your frustrations all too well, and is determined to see progress made where it counts. Whether it’s arguing for stronger customer protections, demanding clarity in the rules, insisting on higher standards for auditors, or giving voice to the concerns of small, independent brokerage firms, Jeff has been a voice calling for change for years now. If elected to the Board of Directors, he’ll keep fighting the good fight on your behalf.
But before we can take the fight to their doorstep, we need to get Jeff on the ballot. To have his name added, we need 50 firms registered as Introducing Brokers to send us an email requesting his inclusion. If you are a registered IB using a mail client such as Outlook, simply click here for an email petition to be populated for you. If you are using webmail, copy and paste the text below into the body of your email, and send to email@example.com.
I hereby petition, pursuant to Article VII, Section 3(b) of the National Futures
Association (NFA) Articles of Incorporation, and NFA Bylaw 406, for the upcoming
election to the National Futures Association Board of Directors, to nominate in the
Jeff Malec, Founder and CEO, Attain Capital Management, LLC
for the position currently held by:
John A. Vassallo, President, Coquest Incorporated
Please email the petition at your earliest convenience as we are under a time limit, and forward this message to any other IBs you may know. Thank you for your help!
WALTER J. GALLWAS
PRESIDENT, FOUNDING PARTNER | ATTAIN CAPITAL MANAGEMENT, LLC.
1 E. Wacker Dr., 30th Floor, Chicago, IL 60601
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