News Releases2022 | 2021 | 2020 | 2019 | 2018 | Show more years
January 19, 2007
National Futures Association takes emergency enforcement action against Georgia commodity pool operator and one of its principals
January 19, Chicago - National Futures Association (NFA) announced today that it has suspended Renaissance Asset Management, a commodity pool operator and commodity trading advisor located in Roswell, Georgia, and William Stacy Wilkinson, one of the firm's principals. As a result of the suspension, Renaissance and Wilkinson are prohibited from acting in any manner which requires registration under the Commodity Exchange Act and are prohibited from disbursing any funds without NFA approval.
NFA took the enforcement action, which becomes effective immediately, because Renaissance and Wilkinson have acted as a commodity pool operator without being properly registered under the Commodity Exchange Act. NFA also charges that Renaissance and Wilkinson provided fraudulent information to their customers, provided false and misleading information to NFA and accepted funds in the name of Renaissance in violation of Commodity Futures Trading Commission (CFTC) and NFA regulations.
The suspension will remain in effect until NFA is satisfied that Renaissance is in complete compliance with all NFA requirements. Renaissance and Wilkinson may petition the CFTC for a stay of this action and may also request a hearing before NFA's Hearing Committee.
The complete text of the Member Responsibility Action is available on NFA's Web site (www.nfa.futures.org).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.