Thursday, 21 August 2014
Last updated 1 hour 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.
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