Subsequent to NIBA’s letter to the membership regarding PFG’s bankruptcy, we’ve had additional in-depth conversations with senior officials at the regulatory agencies and at the PFG trustee’s office. Here is…
The Trustee is working to be able to distribute funds to customers, with the authorization of the Bankruptcy Court, as soon as possible. However, the Trustee must ensure that any…
The trustee liquidating MF Global Inc. (MFGLQ) won court approval to receive $130 million from CME Group Inc. to pay back the bankrupt brokerage’s customers and other creditors. U.S. Bankruptcy…
A shortfall in customer funds revealed at Peregrine Financial Group last month renewed calls for an insurance program for futures customers, but the plan still faces many hurdles, including getting…
A federal judge has granted the bankruptcy trustee for Peregrine Financial Group the right to subpoena information from financial firms, including Goldman Sachs and JPMorgan Chase, with which Peregrine and…
The recent failures of MF Global and PFG represent two devastating FCM bankruptcies with substantial shortfalls in customer segregated assets. Each company also has significant firm assets – the MF…
As we go through the failure of PFGBest less than a year after MF Global, I wanted to alert brokers and GIBs in particular, to make sure you have ownership…
Source: cattlenetwork.com The complex pursuit of the missing $1.6 billion in segregated customer funds lost by bankrupt broker MF Global could take up to six years to sort out, with…
On June 4, 2012, the MF Global Inc. ("MFGI") trustee released his first six month report on the SIPA liquidation of MFGI. In the report, the trustee detailed recoveries the…
In response to the NIBA letter sent to the CFTC last week, the CFTC has replied with a no-action letter, issued by the Division of Swap Dealer and Intermediary Oversight…
