MF Global clients may get most of their money back
A bankruptcy court is set to consider a plan that would return 93% of MF Global customers' money. That number is an improvement on the 80% that U.S. customers had…
Peregrine Scion Aims to Clean the Slate
Six months after Peregrine Financial Group Inc. collapsed in scandal, the son of its disgraced founder is struggling to move forward. Russell Wasendorf Jr., who worked under his now-jailed father…
Proposed MF Global Settlements Lay Groundwork for Potential 100% Recovery For All Commodity Customers
On December 21, 2012, the MF Global Inc. ('MFGI') trustee entered into two settlement agreements with affiliates that together, if both settlements are approved and effected, provide a roadmap for…
House report rebukes Corzine for MF Global’s collapse
The House Financial Services Subcommittee on Oversight and Investigations released a summary of a report -- expected to be released in full today -- on the collapse of MF Global…
MF Global Inc. Trustee Begins Processing General Creditor Claims
Many IBs have general creditor claims in the SIPA liquidation of MF Global Inc. based on commissions due to the IBs as shown on October 2011 commission runs. The deadline…
Vision to take over PFG accounts
By: Daniel P. Collins | Futures Magazine An agreement has been reached between Vision Financial Markets and the trustee for Peregrine Financial Group, pending court approval, that will bulk transfer up…
MF Global Trustee’s Process for Reviewing IB Security Deposit Status to Gear Up
The MF Global trustee will soon ramp up a process for resolving the status of IB security deposits. Many IBs had such security deposits held in MF Global commodity accounts…
CFTC faults Peregrine trustee $123 million distribution plan
By Linda Sandler | Bloomberg The Peregrine Financial Group Inc.trustee didn’t complete necessary tests before announcing a plan to distribute $123 million to customers of the defunct futures brokerage, the U.S. Commodity Futures…
NFA Financial Requirements Section 16 – Required Notification of Certain Disbursements from Segregated/Secured Amount Funds and New Requirements Regarding Statement Submitters
Notice to Members I-12-18 August 24, 2012 NFA Financial Requirements Section 16 - Required Notification of Certain Disbursements from Segregated/Secured Amount Funds and New Requirements Regarding Statement Submitters Notification of…
FCM Risk Assessment – Trust and Verify
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…