PFGBest bankruptcy fuels calls for stronger protection of customer funds

bankrupt

The sudden implosion of Peregrine Financial Group, commonly known by its brand name PFGBest, has rattled the commodities trading industry and reignited the debate over whether greater protection is needed for segregated customer funds held by futures commission merchants (FCMs).

On July 9, the industry's self-regulator, the National Futures Association (NFA), took an emergency enforcement action against PFGBest, revealing that it had discovered a shortfall of $220 million in a bank account that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Clearing exemption too close to call

Exempting commercial hedgers from mandatory clearing could create a loophole for the institutional investors often blamed for driving up commodity prices, according to the chief lawyer for the Commodity Futures Trading Commission (CFTC), reports Risk.net.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: