Saturday, 28 November 2015
Last updated 20 hours ago
Sep 22 2009 | 6:03pm ET
The National Futures Association today barred two firms and their managing principals from membership for their shady business practices.
First, the NFA permanently barred True Vector Trading Group, an introducing broker formerly located in Delray Beach, Florida, and its principal James Douglas of Galveston, Texas. The decision, issued by NFA's Business Conduct Committee, is based on an NFA complaint filed in June 2009.
The committee found that True Vector and Douglas made misleading sales solicitations to customers and had the customers sign blank account opening documents which Douglas completed with inaccurate information. The committee also found that True Vector and Douglas failed to adequately implement an anti-money laundering program and failed to supervise True Vector's employees in the conduct of their commodity futures activities.
Also, the NFA permanently barred from NFA membership Changes Capital Management, a commodity trading advisor located in New York City, and its principal, Pinank Shah. The decision, issued by NFA's Business Conduct Committee, is based on an NFA Complaint filed in June 2009.
The committee found that CCM and Shah failed to cooperate with NFA in its inquiry of the firm's business operations.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…