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January 16, 2014
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NFA orders trading prohibition against California futures firm Newport Private Capital, and its former principals, Jonathan M. Hansen and David M. Giunta
January 16, Chicago - National Futures Association (NFA) has issued a trading prohibition against Newport Private Capital LLC (Newport Private Capital), a registered commodity pool operator and commodity trading advisor located in Newport Beach, California, and its former principals Jonathan M. Hansen (Hansen) and David M. Giunta (Giunta). Effective immediately, Newport Private Capital, Hansen, Giunta and any other person or entity acting on their behalf, are prohibited from placing trades for any pools they operate, or accounts that they own or control or that are held in any of their names, except for liquidation of existing positions.
NFA issued the trading prohibition because Newport Private Capital, Hansen and Giunta failed to comply with the terms of an emergency enforcement action issued on September 4, 2013. The Member Responsibility Action (MRA) against Newport Private Capital and Associate Enforcement Action (ARA) against Hansen and Giunta required them to repay in full all monies, including accrued interest, due on a promissory note dated March 1, 2009 in the principal amount of $4 million by January 15, 2014. The promissory note was executed and issued by the SURE Fund, a real estate investment fund formerly controlled by Hansen and Giunta, to the Financial Futures Fund (FFF), a commodity pool operated by Newport Private Capital.
As of January 15, 2014, Newport Private Capital, Hansen and Giunta had failed to repay the promissory note.
The trading prohibition will remain in effect until NFA receives evidence that Newport Private Capital, Hansen and Giunta have complied fully with the requirements and prohibitions imposed under the MRA/ARA.
The complete text of the MRA/ARA, Decision upholding the MRA and Notice of trading prohibition can be viewed on NFA's website.