3rd Circ. Affirms Ruling Against Commodity Pool Head

Law360, New York (July 6, 2010, 1:43 PM EDT) -- A federal appeals court has handed a win to the U.S. Commodity Futures Trading Commission, ruling that the manager of Universe Capital Appreciation LLC was a commodity pool operator even though he managed a feeder fund that did not execute futures transactions.

Citing precedent it set in July 2009 in a related case the CFTC brought against Equity Financial Group LLC, the U.S. Court of Appeals for the Third Circuit said Wednesday that the lower court was correct to rule against Universe Capital manager William Perkins....
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