NFA Lowers Hammer On CPO, CTA Operator

Jan 17 2007 | 11:03am ET

The National Futures Association recently completed a hat trick against Castle Trading, a registered introducing broker, CHP Asset Management, a registered CPO, Acceleration Capital, a CTA, and their principal, Yuri Plyam.
      
According to the NFA, Castle Trading allegedly failed to maintain required records and initiate an adequate anti-money laundering program. CHP also failed to prepare accurate pool statements, and Plyam failed to supervise any of the businesses under his control. In a related enforcement action, the Commodity Futures Trading Commission announced an order filing and settling charges of fraud and misappropriation of customer funds against Acceleration Capital.

In the settlement, Castle agreed to submit all promotional material to NFA for review and approval prior to first use and to maintain a super adjusted net capital level of at least $100,000 for 18 months. CHP agreed to pay a $30,000 fine and Plyam agreed that neither he nor any other firm he controls would operate a commodity pool for a period of three years.  Finally, CHP and Acceleration Capital agreed that their NFA memberships would be permanently terminated. 


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note