A regulator moved against First Commodity Corp.

In an action which could prohibit the company from selling commodity futures to the public, the National Futures Assn. moved to expel the Boston-based firm for alleged fraud. Lawyers for the association, a federally approved regulatory group, notified First Commodity that they will seek to revoke the company’s membership. The move comes two weeks after the MidAmerica Commodity Exchange ejected First Commodity for what an exchange official said was “the systematic practice of fraud and deceit.” First Commodity is appealing its expulsion from Mid America and said it would appeal the NFA action.