NFA orders New York, N.Y. commodity pool operator AC Investment Management, LLC to pay a $100,000 fine

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NFA orders New York, N.Y. commodity pool operator AC Investment Management, LLC to pay a $100,000 fine

October 29, Chicago--NFA has ordered AC Investment Management, LLC (ACIM), an NFA Member commodity pool operator located in New York, N.Y., to pay a $100,000 fine.

The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA's Business Conduct Committee and a settlement offer submitted by ACIM, in which the firm neither admitted nor denied the allegations in the Complaint.

The Complaint alleged that ACIM permitted Aurelian Plus LLC (Aurelian Plus), a pool ACIM operates, to make an improper loan to an affiliated entity, in violation of NFA Compliance Rule 2-45. The Complaint also alleged that ACIM failed to uphold high standards of commercial honor and just and equitable principles of trade by failing to act in the best interests of Aurelian Plus, AGR Master LP, another pool the firm operates, and their participants, in violation of NFA Compliance Rule 2-4.

In its Decision, the Hearing Panel found that, based on the actions of its former sole managing member, ACIM violated NFA Compliance Rules 2-4 and 2-45.

The complete text of the Complaint and Decision can be viewed on NFA's website.