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November 04, 2016
NFA orders London, England, commodity pool operator and commodity trading advisor The Cambridge Strategy Asset Management Limited to pay $60,000 fine
November 4, Chicago—National Futures Association (NFA) has ordered The Cambridge Strategy Asset Management Limited (Cambridge), an NFA Member commodity pool operator (CPO) and commodity trading advisor (CTA) located in London, England, to pay a $60,000 fine.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint authorized by the BCC on August 23, 2016, and a settlement offer submitted by Cambridge. The Complaint alleged that Cambridge commingled offshore pool funds, distributed pool statements that contained errors, failed to receive funds in the name of the pool, failed to disclose the amount of all fees charged to pool participants, and failed to fully supervise its operations.
In December 2014, the BCC issued its first Decision against Cambridge, regarding a September 2014 Complaint, which alleged that Cambridge failed to timely file its quarterly pool reports, annual pool financial statements, and CTA PR reports. The BCC ordered Cambridge to pay a $30,000 fine.