Comment Text:
Three years ago, our firm was issued a Wells Notice because the person reviewing our NFA reports did not understand our accounting procedures.
At the time, our firm was licensed as a CPO, CTA and RIA and our sole product, Triumph Investment Master Fund Ltd. (a Master-Feeder Fund ) traded in the futures, options and securities markets.
We trade only on bona fide exchanges and mark-to-market our entire portfolio each night.
At a formal meeting in NY with Ron Carletta and others, the Wells Notice was rescinded and the CFTC requested that our firm withdraw our registration under 4.7 and formally register under 4.13 (a) (4).
Both the CFTC and the NFA recommended this action to which we agreed.
Our firm continues to file annual audits and reports to our investors as we have always done.
I reiterate that this was requested by the CFTC and the NFA to facilitate their oversight.
With the pending withdrawal of rule 4.13, what would the CFTC propose our firm do?
(The procedures had been approved by the CFTC many years ago. In the very early years of the CFTC I served on an accounting sub-committee to help formalize the original 14 column procedures.)
I have 44 years experience in the investment industry and to my knowledge, other than this issue, I have had no issues with the CFTC, NFA, NASD (FINRA) or SEC.
Please instruct me regarding my options because I'm sure that the NFA does not want our firm to register under either 4.7 or 4.2.
James Moore 845-477-0200
