Promoting inaccurate rates of return, grossly overstated assets under management, lying to the NFA… The National Futures Asscoiation has taken an emergency enforcement action against Illinois firm Novo Trading LLC, which is a registered NFA member and commodity trading advisor (CTA) and Thomas Henry O'Connell Jr., a principal and associated person of Novo. The action has been taken to protect customers from the fraudulent and misleading solicitation material that is being used to draw them to the firm. Novo Trading and Mr. O'Connell are presenting inaccurate rates of return on investment and have dramatically overstated the amount of assets under their management. On top of it during the investigation the company and its principal instead of cooperating with authorities, have mislead and lied to the NFA.