Ex-Chicago Merc Chairman Quits Hedge Fund

Sep 11 2007 | 3:53pm ET

Former Chicago Mercantile Exchange Chairman Laurence Rosenberg has resigned from the board of troubled hedge fund Lake Shore Asset Management, his lawyer said.

Rosenberg, who had served as chairman of the Chicago-based hedge fund, end his relationship with Lake Shore last month, informing regulators of his departure on Aug. 13, the Chicago Tribune reports. The Commodity Futures Trading Commission is probing the hedge fund, after the National Futures Association accused it of misleading investors about the funds’ performance.

“Obviously, Lake Shore has been getting a lot of press,” attorney Bob Byman said. “There was no reason for [Rosenberg] to stay with them while they are under this cloud.” Byman added that Rosenberg had no management responsibility at Lake Shore, and “pleaded” with firm president Philip Baker “more than once” to cooperate with investigators, who have demanded a slew of records and documents. Lake Shore is fighting the requests.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of