NFA announced today that its Board of Directors appointed Thomas Sexton, to serve as NFA's President and CEO, effective March 1, 2017. Daniel Roth, NFA's President and CEO, announced his retirement in May 2016.
In a microcosm of what’s wrong with this country, NFA management has restructured the Board and set up this election to eliminate 50% of the representatives that were actually elected by you. This will result in even less oversight of a management team that has seen four major frauds happen on their watch recently.
You may have read the Chairman of NFA’s letter denying the accusations I raised about improprieties committed by NFA’s Management and Executive Committee. I respect the Chairman, and have no doubt he felt he had no choice but to support Management.