Friday, 22 August 2014
Last updated 35 min ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note