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If one wishes to do securities or futures business with a US citizen, then
one must register with the proper US authority.
Regards, Jack.
----- Original Message -----
From: "Justin Fanning" <Justin@xxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Sunday, March 20, 2005 3:08 PM
Subject: Re: Anyone familiar with www.sptrader.com ?
>
> Found this on google: http://www.joewein.de/sw/spam-sp-traderfund-com.htm
> Someone is complaining SP's a spammer and also raises some interesting
> questions.
>
> UK Companies House is down on the weekend, but you may want to search
> on http://www.companieshouse.gov.uk/WebCHeck/fastrack/ in the morning.
>
> I'm not surprised being a UK entity they are not registered with the NFA,
> the SFA is the UK equivalent (hybrid SEC/NFA) http://www.fsa.gov.uk/
> The SFA says no such firm as SP TRADE INVESTMENTS CAPITAL LTD
> or SP TRADER INVESTMENT FUTURES GROWTH FUND
> is registered in the UK to conduct financial services.
> See: http://www.fsa.gov.uk/register/
>
> For the record, W1J 9 is not a complete UK post code, W1J 9HG or HX
> would be valid for that address according to Royal Mail. 211-212
Piccadilly
> shows as a serviced office supporting businesses as wide ranging as
> The Panel on Gamma and Electron Irradiation
> <http://www.irradiationpanel.org/aboutthepanel/contactus.asp> to more
> wide ranging
> consultancies than you would want to poke a stick at.
>
> For the curious the building looks like this:
> http://images.jiwire.com/images/locations/19532.jpg
> http://www.julianglasgow.co.uk/images/211piccadilly.jpg
>
> The UK SFA did show various firms registered to that address
> to conduct financial business (and also numerous strike off's!)
> but nothing even remotely resembling SP TRADE INVESTMENTS CAPITAL LTD.
>
> Its possible they operate through a parent company or they could
> be registered off-shore for legal reasons etc etc. Regulation is a very
> geographical thing, just because the USA/UK don't regulate the business
> doesn't automatically make it illegitimate (lookup Virgin some time),
> but does make the due diligence process difficult.
>
> Obvious questions to ask would include in what jurisdiction is their Ltd
> shell
> incorporated and is it the top of the tree, or is it owned by further
> trusts etc.
> Are the deposit funds insured in any way (not against trading losses but
> against
> business losses), what jurisdiction is regulating the market trading
> activity
> (I.E. is any one auditing that client funds aren't being used for
> business costs
> ponzi style) etc etc.
>
> Google is your friend.
>
>
> Justin
>
> ---
>
> jack zaner wrote:
>
> >They are not listed as a member of NFA nor do I see any mention of their
> >fund being offered only by the Prospectus- - red flags to me.
> >Regards, Jack.
> >----- Original Message -----
> >From: "MT" <mtzianos@xxxxxxxxx>
> >To: <omega-list@xxxxxxxxxx>
> >Sent: Saturday, March 19, 2005 1:39 PM
> >Subject: Anyone familiar with www.sptrader.com ?
> >
> >
> >
> >
> >>Notice: This is a case of "if it looks too good to be true"... but
> >>anyway
> >>
> >>This outfit apparently offers managed accounts and hedge-fund "units"
> >>(european fund legislation is a bit different from the US one) and
> >>reports unreal results:
> >>
> >>http://www.sptrader.com/summary-perf-yr-5-1/index.html
> >>
> >>It says it has $160m AUM. Has a 5yr real time track record with real
> >>money and 14-month record (since Dec-2003) trading OPM.
> >>
> >>Apparently they're use TS and trade the ES with profit factor of >3 (!!)
> >>
> >>Yet, NO MENTIONING of AUDITING info by an independant party. No
> >>disclaimer about "hypothetical results" (as when a vendor publishes
> >>backtested results)
> >>
> >>And the description of their "trading system" seems very odd (1-3day
> >>swing trade signals based among others on relationship between CL and ES
> >>?!?!?)
> >>
> >>http://www.sptrader.com/trading-system-7/index.html
> >>
> >>If it's a scam, I'm suprised that regulators haven't caught with this
> >>yet.
> >>
> >>
> >>
> >>--
> >>
> >>
> >>
> >>
> >
> >
> >
> >
> >
>
>
>
> --
>
>
--
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