August 5, 2010
Washington, DC - The U.S. Commodity Futures Trading Commission (CFTC) today announced that Financial Investments, Inc. (FII) was ordered to pay a $130,000 civil monetary penalty to settle CFTC charges that it repeatedly failed to file its commodity pool’s annual reports in a timely manner. FII, based in Herndon, Va., operated the commodity pool, Financial Investments, L.P., from 2004 until December 2008.
The consent order, entered on August 2, 2010, by U.S. District Court Judge Gerald Bruce Lee, Eastern District of Virginia, stems from a CFTC complaint filed on March 5, 2010 (see CFTC Press Release 5789-10, March 8, 2010). The court’s order finds that, although FII was required to file the pool’s annual reports within 90 calendar days after the end of the pool’s fiscal year with the National Futures Association, FII failed to do so for fiscal years 2004, 2005 and 2006. During the same period however, FII sent material financial information to the pool’s investors regarding the pool’s performance, including quarterly reports, according to the order.
The following CFTC Division of Enforcement staff are responsible for this case: James Deacon, Kim Bruno, Kathleen Banar, Rick Glaser and Richard Wagner.
Last Updated: August 5, 2010