The US National Futures Association (NFA) has announced that it has ordered Aspirant Management LLC, an NFA Member commodity pool operator (CPO) and commodity trading advisor (CTA), and Luckow Group, Inc., an NFA Member CTA, both located in Lake Forest, Illinois, to permanently withdraw from NFA membership. NFA also has ordered the firms’ sole principal and associated person (AP), Paul D. Luckow, not to register as an AP or be principal of an NFA Member CPO or CTA. Finally, Aspirant Management, Luckow Group and Luckow also were ordered to pay a total fine of $20,000.
The Decision, issued by an NFA Hearing Panel, is based on a complaint authorized by NFA’s Business Conduct Committee on June 30, 2014, and a settlement offer submitted by Aspirant Management, Luckow Group and Luckow. The Hearing Panel found that Aspirant Management violated NFA Rules by improperly taking loans and advances from Aspirant LP, a commodity pool that it operated, and that Aspirant Management, Luckow Group and Luckow misused pool assets.
The Hearing Panel also found that Aspirant Management and Luckow filed pool financial statements with NFA that contained misleading information.
The complete text of the Complaint and Decision can be viewed by clicking here.