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A CPO and CTA paid a $60,000 fine to settle NFA Business Conduct Committee ("BCC") charges that it had committed a number of violations with respect to the operation of offshore pool funds.
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A commodity pool operator ("CPO") and commodity
trading advisor ("CTA") paid a $60,000 fine to settle NFA
Business Conduct Committee ("BCC") charges that it had committed a number of
violations with respect to the operation of offshore pool funds.
The NFA alleged that the CPO/CTA had: (i) commingled offshore pool
funds; (ii) distributed inaccurate pool statements; (iii) failed to
receive funds in the name of the pool; (iv) failed to disclose the
amount of all fees charged to pool participants; and (v) failed to
fully supervise its operations.
The NFA added that the CPO/CTA previously had paid a $30,000
fine to settle 2014 charges alleging that it had failed to
timely file several of its required reports.
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