For Release: March 8, 2010
CFTC Sues Virginia-based Financial Investments, Inc. for Repeatedly Failing to File Annual Reports in a Timely Manner for a Commodity Pool It Operated
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a complaint in the U.S. District Court for the Eastern District of Virginia charging Financial Investments, Inc. (FII) with repeatedly failing to distribute and file its commodity pool’s annual reports in a timely manner. FII, based in Herndon, Va., operated the commodity pool, Financial Investments, L.P., beginning in 2004 until December 2008.
Specifically, the CFTC’s civil complaint, filed on March 5, 2010, alleges that FII repeatedly violated CFTC regulation 4.22(c) by failing to distribute to pool participants and to file with the National Futures Association the pool’s required yearly annual reports for fiscal years 2004 through 2006 within 90 calendar days after pool’s fiscal year ended.
In its continuing litigation, the CFTC seeks a civil monetary penalty and a permanent injunction against further violations of federal commodities laws.
The following CFTC Division of Enforcement staff are responsible for this case: Rick Glaser and Richard Wagner.
Last Updated: April 2, 2010