| LAST ATLANTIS CAPITAL MANAGEMENT LLC |
NFA 08BCC00028 |
NFA ID: 0360774 |
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| 0091379 | BERGER, IRWIN MICHAEL | 03/27/2009 | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | 03/27/2009 |
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| 0091379 | BERGER, IRWIN MICHAEL | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | • C.R.2-2(a) - CHEAT,FRAUD DECEIVE CUSTOMERS | | | | • C.R.2-9(a) - SUPERVISION OF EMPLOYEES | | | | • C.R.2-13 - RECORDKEEPING FOR CPOS/CTAS | | | | • C.R.2-2(f) - FALSE INFORMATION TO NFA/AGENTS |
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| 0091379 | BERGER, IRWIN MICHAEL | • BUSINESS CONDUCT COMMITTEE | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | • BUSINESS CONDUCT COMMITTEE |
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| 0091379 | BERGER, IRWIN MICHAEL | • GENERAL CONDUCT | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | • SALES PRACTICE | | | | • GENERAL CONDUCT |
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| 0091379 | BERGER, IRWIN MICHAEL | • TEMPORARY BAR FROM NFA MEMBERSHIP 3 YRS | 03/27/2009 | | | | • FINE $60000 | 03/27/2009 | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | • PERMANENT WITHDRAWAL FROM NFA MEMBERSHIP | 03/27/2009 |
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| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On November 14, 2008, NFA issued a Complaint charging LACM with providing false and deceptive reports to participants; providing false and misleading information to NFA; failing to properly compute and present financial statements and reports; and failing to provide complete and accurate disclosures. The Complaint also charged LACM and Berger with failing to supervise.
ANSWER:
On December 23, 2008, Last Atlantis and Berger filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On March 27, 2009, an NFA Hearing Panel issued a Decision accepting Last Atlantis' and Berger's Offer of Settlement. Pursuant to the Offer, without admitting or denying the violations alleged in the Complaint, Last Atlantis and Berger agreed that the Decision accepting the Offer shall include the Hearing Panel's belief that they committed the violations.
Last Atlantis was ordered to withdraw from NFA membership and not reapply for NFA membership or act as a principal of any NFA Member. Berger was ordered to withdraw from NFA associate membership and as a principal of any Member. Berger, for a period of three years, shall not apply for NFA membership or NFA associate membership or act as a principal of an NFA Member. During this time, Berger shall not act in any capacity requiring registration nor act as a principal of an NFA Member. If after the expiration of the three-year period, Berger again becomes an NFA Member or Associate or a principal of an NFA Member, he shall pay a $60,000 fine. | | | |
| **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS. FOR A COPY OF DOCUMENTS, CONTACT NFA'S INFORMATION CENTER.**
COMPLAINT:
On November 14, 2008, NFA issued a Complaint charging LACM with providing false and deceptive reports to participants; providing false and misleading information to NFA; failing to properly compute and present financial statements and reports; and failing to provide complete and accurate disclosures. The Complaint also charged LACM and Berger with failing to supervise.
ANSWER:
On December 23, 2008, Last Atlantis and Berger filed an Answer to the Complaint in which they denied the material allegations contained therein.
DECISION:
On March 27, 2009, an NFA Hearing Panel issued a Decision accepting Last Atlantis' and Berger's Offer of Settlement. Pursuant to the Offer, without admitting or denying the violations alleged in the Complaint, Last Atlantis and Berger agreed that the Decision accepting the Offer shall include the Hearing Panel's belief that they committed the violations.
Last Atlantis was ordered to withdraw from NFA membership and not reapply for NFA membership or act as a principal of any NFA Member. Berger was ordered to withdraw from NFA associate membership and as a principal of any Member. Berger, for a period of three years, shall not apply for NFA membership or NFA associate membership or act as a principal of an NFA Member. During this time, Berger shall not act in any capacity requiring registration nor act as a principal of an NFA Member. If after the expiration of the three-year period, Berger again becomes an NFA Member or Associate or a principal of an NFA Member, he shall pay a $60,000 fine. | | |
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| 0091379 | BERGER, IRWIN MICHAEL | ANSWER | | 0091379 | BERGER, IRWIN MICHAEL | COMPLAINT | | 0091379 | BERGER, IRWIN MICHAEL | DECISION | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | ANSWER | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | COMPLAINT | | 0360774 | LAST ATLANTIS CAPITAL MANAGEMENT LLC | DECISION |
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