Defunct Hedge Fund Loses CFTC Registration

Law360, New York (September 18, 2008, 12:00 AM EDT) -- After becoming the first hedge fund in U.S. history to be criminally convicted for engaging in fraudulent market-timing, Beacon Rock Capital LLC has lost its registration as a commodity pool operator and commodity trading adviser with the U.S. Commodity Futures Trading Commission.

The CFTC issued an order Wednesday revoking the now-defunct hedge fund's CPO and CTA registrations because of the fund's involvement with securities fraud involving short-term purchases and sales of mutual fund shares.

A spokesman for Beacon Rock said on Friday that the hedge fund...
To view the full article, register now.