News Releases2023 | 2022 | 2021 | 2020 | 2019 | Show more years
February 5, 2014
For more information contact:
Larry Dyekman (312) 781-1372, email@example.com
Karen Wuertz (312) 781-1335, firstname.lastname@example.org
NFA orders California futures firm Newport Private Capital LLC and two former principals, Jonathan M. Hansen and David M. Giunta, to permanently withdraw from NFA membership
February 5, Chicago - National Futures Association (NFA) has ordered Newport Private Capital LLC (Newport Private Capital), a commodity pool operator and commodity trading advisor member of NFA, located in Newport Beach, Calif., to permanently withdraw from NFA membership. NFA also has ordered two of the firm's former principals, Jonathan M. Hansen (Hansen) and David M. Giunta (Giunta), to permanently withdraw from NFA membership.
The Decision, issued by NFA's Business Conduct Committee (Committee), is based on a Complaint filed against Newport Private Capital, Hansen and Giunta on February 4, 2014, and a settlement offer submitted by Newport Private Capital, Hansen and Giunta.
The Committee found that Newport Private Capital failed to repay the principal and interest on a $4 million loan from the Financial Futures Fund, a commodity pool operated by Newport Private Capital, to the SURE Fund, an entity operated and indirectly owned by Hansen and Giunta. In addition, the Committee found that Hansen and Giunta failed to discharge their personal guarantees to repay the loan to the Financial Futures Fund in the event of a default by the SURE Fund.
Newport Private Capital, Hansen and Giunta were the subjects of an NFA emergency enforcement action issued on September 4, 2013 and a trading prohibition issued on January 16, 2014.
The complete text of the Complaint, the Decision against Newport Private Capital and Hansen and the Decision against Giunta can be viewed on NFA's website.