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

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.