This article originally appeared on FuturesMagazine.com on October 23, 2012. BY MICHAEL MCFARLIN The Commodity Futures Trading Commission (CFTC) announced new rules and regulations related to customer fund protection earlier today. The Commission unanimously approved the new rules yesterday in response to MF Global’s demise one year ago and the revelation of fraud at PFGBest earlier this year. Speaking at the annual Securities

This article originally appeared in Futures Magazine. BY ALANNA BYRNE A group of Peregrine Financial Group (PFG) forex and metals account holders prepared to file a motion asking a judge to order Trustee Ira Bodenstein to return these accounts to customers, arguing that they should not be considered assets of the estate. The motion asserts that

This article originally appeared in the Des Moines Register. Written by Victor Epstein Victims of the financial scandal at Peregrine Financial Group may finally get some good news, thanks to the possible existence of shell accounts at the defunct futures and commodities brokerage. The fakes could reduce the number of real victims seeking a piece

This article originally appeared as an Associated Press dispatch. By Ryan j. Foley, Associated Press IOWA CITY, Iowa (AP) — A lawsuit claiming US Bank helped Peregrine Financial Group’s CEO mislead regulators about his misuse of customer funds is a meritless attempt to shift responsibility for the $200 million fraud, a senior bank official said Tuesday.

This article originally was published in the August 2012 issue of Opalesque Futures Intelligence. Though it may be cold comfort for PFGBest’s customers and brokers, Mr. Wasendorf’s fraud has changed the conversation in the futures industry.  The debate on how to protect customers has shifted from whether or not account insurance is necessary to what

This post was originally written for The Journal of the National Introducing Brokers Association. The recent insolvencies of MF Global and PFGBest, along with the near miss of Knight Capital, have sent customers scrambling to confirm the safety of their property and the financial health of their brokers. Prior to October 2011, most futures customers