Tuesday, 23 September 2014
Last updated 10 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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