Saturday, 30 August 2014
Last updated 16 hours ago
Sep 14 2007 | 10:55am ET
Lake Shore Asset Management is still a cold, cold place. A federal court in Chicago slapped the Windy City hedge fund with a preliminary injunction, freezing its assets and prohibiting it from destroying documents or from trading in commodity futures and options. According to the Commodity Futures Trading Commission, which sought the injunction, “the court concluded that an asset freeze was necessary to protect customer funds.”
The CFTC has sought access to the firm’s records as it seeks to investigate claims that Lake Shore lied to investors about its performance. According to the CFTC, Lake Shore marketing materials claim $1 billion in assets under management and highly profitable trading, though the regulator believes it has actually lost about $29 million.
Lake Shore had argued that the CFTC had no right to look at its records, and after the initial court order of Aug. 28, it appealed and sought a stay of the order, both of which were rejected by the U.S. Court of Appeals for the Seventh Circuit in Chicago last week.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...