NFA orders Golden Point Capital Management to withdraw from membership

Maria Nikolova

Golden Point and its principal Glenn Graham failed to cooperate promptly and fully with NFA during its 2018 examination of Golden Point.

The United States National Futures Association (NFA) has ordered Golden Point Capital Management LLC, a commodity pool operator and commodity trading advisor located in Chicago, and its sole principal and associated person Glenn Graham, to both withdraw from and not reapply for NFA membership, in any capacity, or act as a principal of an NFA Member.

The Decision, issued by an NFA Hearing Panel, is based on a Complaint issued by NFA’s Business Conduct Committee (BCC), and a settlement offer submitted by Golden Point and Graham. The Complaint alleged that Golden Point and Graham failed to cooperate promptly and fully with NFA during its 2018 examination of Golden Point.

Throughout NFA’s examination, Graham was slow in producing documents and information requested by NFA, and in late May 2018, he stopped co-operating altogether. The respondents failed to co-operate with the CFTC too.

In June 2018, NFA issued an emergency enforcement action against Golden Point and Graham, which suspended them from NFA membership and prohibited them from disbursing or transferring any funds without NFA’s prior approval. This action was taken to protect pool participants and customers because of Golden Point and Graham’s failure to cooperate with NFA.

As a result of Golden Point and Graham’s lack of cooperation, NFA was unable to determine if the funds Graham withdrew from the pool operated by Golden Point and sent to either himself, Golden Point or family members were legitimate redemptions.

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<