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For Immediate Release
December 19, 2018

For more information contact:
Kristen Scaletta, 312-781-7860,
Karen Wuertz, 312-781-1335,

NFA takes emergency enforcement action against Georgetown, Cayman Islands commodity pool operator and commodity trading advisor Beverstone Fund Management and its principal Roland Kaehler

December 19, Chicago—NFA has taken an emergency enforcement action against Beverstone Fund Management (Beverstone), an NFA Member commodity pool operator and commodity trading advisor located in Georgetown, Cayman Islands, and its principal and sole associated person Roland Kaehler.

This action was taken to protect pool participants and customers because of Beverstone and Kaehler's failure to cooperate with NFA. Due to Beverstone and Kaehler's lack of cooperation, NFA, among other things, is unable to substantiate Kaehler's interests in two pools operated by Beverstone, the purported valuations of his interests, and the pools' interests in a certain asset and its purported valuation. In addition, NFA is concerned that Beverstone and Kaehler provided misleading information to pool participants, and may have withdrawn funds in incentive fees from two pools that they cannot demonstrate they were entitled to.

Effective immediately, Beverstone and Kaehler are suspended from NFA membership and are prohibited from disbursing or transferring any funds of any pools or managed accounts under their control without NFA's prior approval. This action will remain in effect until Beverstone and Kaehler have demonstrated to NFA's satisfaction that they are in complete compliance with all NFA requirements.

Beverstone and Kaehler may request a hearing before NFA's Hearing Committee.

The complete text of the emergency action is available on NFA's website.

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