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NOTICE OF MEMBER AND ASSOCIATE RESPONSIBILITY ACTIONS:
On January 23, 2007, NFA issued a Member Responsibility Action ("MRA") against CCM and Profit whereby:
1. CCM and Profit are suspended from NFA membership and associate membership, respectively, effective immediately and until further notice;
2. CCM and Profit are prohibited from acting in any manner which requires registration under the Commodity Exchange Act;
3. CCM and Profit are prohibited from soliciting or accepting any customer or pool participants’ funds or placing trades on behalf of any customers or commodity pools they operate except to liquidate existing positions;
4. CCM and Profit are prohibited from disbursing or transferring any funds of customers or commodity pools from any accounts (bank, trading, or any other types of accounts) without prior approval from NFA; and
5. CCM and Profit are required to provide copies of this MRA and ARA via overnight courier to all customers having accounts, which either CCM or Profit control, and to all pool participants in any pools that CCM or Profit operate or over which either of them exercises control, including, but not limited to, the Cornerstone Icon Fund LP (the "Icon Fund" or "pool") and to all banks and other financial institutions with which money is on deposit in the name of the pool or CCM or in the name of a customer and that either CCM or Profit control.
This action is effective immediately and is deemed necessary to protect the commodity futures markets, customers, or other Members or Associates because CCM has operated a commodity pool without being registered as required under the Commodity Exchange Act. Additionally, CCM and Profit have provided false and misleading information to NFA, used misleading and false materials in soliciting customers, failed to produce to NFA books and records requested by NFA as part of an inquiry regarding CCM and, thus, have failed to cooperate with NFA in the inquiry regarding CCM, and have failed to demonstrate that CCM is in full compliance with all NFA Requirements.
The MRA will remain in effect until such time as CCM and Profit have demonstrated to the satisfaction of NFA that it is in complete compliance with all NFA Requirements.