Saturday, 25 October 2014
Last updated 14 hours ago
Jul 6 2007 | 11:25am ET
Not content with merely freezing its assets, the Commodity Futures Trading Commission has asked a judge to hold Lake Shore Asset Management in contempt of court.
The regulator told the court that the Chicago-based hedge fund has failed to produce its derivative market books and records.
Lake Shore managing partner Phillip Baker said his firm was working “diligently” with regulators to solve the problem.
Lake Shore, founded by former Chicago Mercantile Exchange Chairman Laurence Rosenberg, had claimed almost $1 billion in assets. But when the National Futures Association found only $467 million in its accounts after being given access to its secure Web site, Rosenberg revoked its access, claiming that it violated international banking privacy laws.
Last week, the Illinois federal court froze some $23 million in firm assets at the CFTC’s request.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.