Archive for July 15th, 2012

CFTC — PFGBest — Well — It’s About Time!

Sunday, July 15th, 2012

On Friday, 13th of July, the Commodity Futures Trading Commission (CFTC) finally approved financial rules submitted by the National Futures Association (NFA) to ensure customer funds held by Futures Commission Merchants (FCMs). What finally pushed the CFTC to file new protections? FCM firm, Peregrine Financial Group Inc. (PFGBest) declared bankruptcy after losing $215 million of customers segregated funds. Once again, the CFTC failed to protect futures traders. (more…)