NFA Bars Commodity Asset Management LLC, Fines Tulkoff $100K
Summary
NFA has ordered Commodity Asset Management LLC, a former NFA Member commodity pool operator and commodity trading advisor in New York, not to reapply for NFA membership or act as a principal of an NFA Member at any time in the future. NFA also ordered associated person and principal Jonathan Mark Tulkoff not to reapply for nine months, pay a $100,000 fine, and comply with an undertaking if he reapplies in the future. The Hearing Panel found Tulkoff committed violations of NFA Compliance Rule 2-29 regarding non-compliant promotional material and NFA Compliance Rule 2-4 regarding standards of commercial honor.
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What changed
NFA issued enforcement orders against Commodity Asset Management LLC and Jonathan Mark Tulkoff for violations of NFA Compliance Rule 2-29 (non-compliant promotional material) and NFA Compliance Rule 2-4 (contrary to high standards of commercial honor and just and equitable principles of trade). Commodity Asset Management LLC was ordered permanently barred from NFA membership and prohibited from acting as a principal of any NFA Member. Tulkoff received a nine-month bar, $100,000 fine, and a compliance undertaking for any future reapplication.\n\nCommodity pool operators and commodity trading advisors registered with NFA should review their promotional materials for compliance with NFA Compliance Rule 2-29 requirements and ensure all marketing communications meet the standards required under NFA rules.
Penalties
$100,000 fine against Jonathan Mark Tulkoff
Archived snapshot
Apr 25, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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- Show more years For Immediate Release March 9, 2026
For more information contact:
Christie von Ohlen, 312-781-1497, cvonohlen@nfa.futures.org
Joseph McCarthy, 312-781-1357, jmccarthy@nfa.futures.org
NFA orders former New York-based commodity pool operator and commodity trading advisor Commodity Asset Management LLC not to reapply for NFA membership
March 9, Chicago – NFA has ordered Commodity Asset Management LLC (Commodity Asset Management), a former NFA Member commodity pool operator and commodity trading advisor located in New York, N.Y., not to reapply for NFA membership or act as a principal of an NFA Member at any time in the future. NFA also ordered Jonathan Mark Tulkoff, a prior associated person and principal of Commodity Asset Management and former NFA Associate, not to reapply for NFA membership or act as a principal of an NFA Member for nine months and further ordeed him to pay a $100,000 fine and comply with an undertaking if he reapplies for NFA membership or principal status in the future.
The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA's Business Conduct Committee (BCC) and a settlement offer submitted by Commodity Asset Management and Tulkoff, in which they neither admitted nor denied the allegations in the Complaint. In the Complaint, the BCC alleged, among other things, that Commodity Asset Management and Tulkoff used promotional material that did not comply with NFA requirements, in violation of NFA Compliance Rule 2-29, and acted contrary to high standards of commercial honor and just and equitable principles of trade, in violation of NFA Compliance Rule 2-4. In its Decision, the Hearing Panel found that Tulkoff committed the violations alleged against him in the Complaint.
The complete text of the Complaint and Decision can be viewed on NFA's website.
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