Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.