Nord Capital Advisors, a Commodity Futures Trading Commission-registered commodity trading adviser, and Yakov Shlyapochnik, a principal of NCA, were charged with failing to disclose that Nord Capital Financial Services Ltd. was also a principal of NCA from September 2011 through August 2014. During the time, claimed the CFTC, NCFS provided NCA the majority of its operating capital. In addition, both respondents were charged with disclosing that NCA used a particular algorithmic trading system from at least February 2013 until January 2014, when, in fact, it had discontinued using the system in November 2012. The firm stopped using the relevant trading system after its developer ceased working for NCA in November 2012 and withdrew its right to use the system, said the CFTC. To resolve this matter, respondents agreed to pay a fine of US $280,000 and be permanently prohibited from trading on CFTC overseen trading facilities.