Warning

A New Place for Investors to Find Silver

I recommend you look at the disciplinary history of Michael Flett, owner of the Flett Exchange, before doing business with him. He's been disciplined 3 times by the NYMEX and paid over $100,000 in fines and restitutions. One disciplinary action was for trading ahead of a customers order, and now he provides his own oversight! You can see his record at the National Futures Association site at www.nfa.futures.org/ba... and www.nfa.futures.org/ba... Here is the text of the most serious one:

Narrative for 0236105 - FLETT, MICHAEL DONALD
The New York Mercantile Exchange took final disciplinary action against Michael Flett("GALT"), a Member of the NYMEX Division of the Exchange. The subject of the disciplinary action concerned an allegation that in October, 2004 and November, 2004 Respondent trading ahead of customer Market on Close orders in violation of NYMEX Division Rule 6.41(B): Trading Standards for Floor Brokers; and Exchange Rule 8.55(B)(2): Engaging in Conduct Inconsistent with Just and Equitable Principles of Trade.
Respondent submitted a Joint Offer of Settlement without admitting or denying the allegations against him. The Offer, consisting of a fine of $25,000, restitution in the amount of $74,700, and an order to cease and desist from future similar rule violations, was accepted by the Exchange’s Board of Directors at its meeting held on September 19, 2007.