We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

CFTC Sues Commodity Pool For Closed Books

Law360 (June 28, 2007, 12:00 AM EDT) -- Federal regulators have filed a lawsuit against commodity pool operator Lake Shore Asset Management Ltd., alleging the firm's refusal to open its books for inspection constituted a violation of the Commodity Exchange Act.

The U.S. Commodity Futures Trading Commission has filed a request for an order against Lake Shore with the U.S. District Court for the Northern District of Illinois, claiming the firm declined a request last Thursday to produce its records.

The CFTC alleges the Chicago-based firm, a registered commodity trading advisor (CTA) and commodity...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.