Friday, 24 October 2014
Last updated 2 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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