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For Immediate Release
August 15, 2019

For more information contact:
Kristen Scaletta, 312-781-7860, kscaletta@nfa.futures.org
Karen Wuertz, 312-781-1335, kwuertz@nfa.futures.org

NFA bars George Town, Cayman Islands commodity pool operator and commodity trading advisor Beverstone Fund Management and its principal Roland Kaehler from membership

August 15, Chicago—NFA has permanently barred Beverstone Fund Management (Beverstone), an NFA Member commodity pool operator and commodity trading advisor located in George Town, Cayman Islands, and its principal and sole associated person Roland Kaehler from membership and from acting as a principal of an NFA Member.

The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC. The BCC found that Beverstone and Kaehler made false and misleading statements to pool participants, improperly calculated and charged incentive fees based on an inflated net asset value and otherwise failed to act in the best interest of pool participants, and failed to cooperate with NFA in its 2018 examination of Beverstone.

In December 2018, NFA issued an emergency enforcement action against Beverstone and Kaehler, which suspended them from NFA membership and prohibited them from disbursing or transferring any funds of any pools or managed accounts under their control without NFA's prior approval. This action was taken to protect pool participants and customers because of Beverstone and Kaehler's failure to cooperate with NFA.

In October 2018, Beverstone was ordered to pay a $30,000 fine to NFA for failing to file required reports. Beverstone never paid this fine.

For more information, read the 2019 Complaint and Decision.

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