NFA says PFGBest can’t meet customer obligations
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July 9, Chicago – National Futures Association (NFA) announced today that it has taken an emergency enforcement action against Peregrine Financial Group, Inc. (PFG), an NFA Member futures commission merchant za pumpo (FCM) and Peregrine Asset Management, Inc. (PAM), an NFA Member commodity trading advisor (CTA) and commodity pool operator (CPO) located in Chicago, Illinois.
NFA has taken the Member Responsibility Action (MRA) to protect customers because PFG has failed to demonstrate that it meets capital requirements and segregated funds requirements. NFA also has reason to believe that PFG does not have sufficient assets to meet its obligations to its customers.
Effective immediately, PFG and PAM are prohibited from soliciting or accepting any additional customer accounts or customer funds, except as margin for existing za pumpo positions. Additionally, PFG and PAM are prohibited from accepting or placing trades za pumpo for any customer accounts except for the liquidation of existing customer positions and are prohibited from distributing, za pumpo disbursing or transferring any funds, including to existing customers, without the prior approval of NFA.
CFTC Sues US Bank for Unlawful Use of #PFGBest’s Seg Funds
Are you a customer of PFGBest? The CCC is working with regulators and monitoring the court on behalf of PFG customers. At this stage, we are advising customers to gather their statements and prepare for a claims or account transfer process.
Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy za pumpo process of MF Global on a pro bono basis, and informally represents thousands more in the public domain.
Interested za pumpo in helping reform the commodities industry? The CCC is working on a variety of initiatives za pumpo to strengthen the legal protections for customer property. We need your help for these efforts to succeed.
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Home About About CCC Board of Directors Advisory Board Membership Member Benefits Join Now! Member Home #PFGBest #MFGlobal #FCMReform Press Press Releases CCC in the News Videos Resources CCC Legal Filings CCC Documents Links Social Media Contact General Contact Info Tell Us YOUR Story Donate Login
July 9, Chicago – National Futures Association (NFA) announced today that it has taken an emergency enforcement action against Peregrine Financial Group, Inc. (PFG), an NFA Member futures commission merchant za pumpo (FCM) and Peregrine Asset Management, Inc. (PAM), an NFA Member commodity trading advisor (CTA) and commodity pool operator (CPO) located in Chicago, Illinois.
NFA has taken the Member Responsibility Action (MRA) to protect customers because PFG has failed to demonstrate that it meets capital requirements and segregated funds requirements. NFA also has reason to believe that PFG does not have sufficient assets to meet its obligations to its customers.
Effective immediately, PFG and PAM are prohibited from soliciting or accepting any additional customer accounts or customer funds, except as margin for existing za pumpo positions. Additionally, PFG and PAM are prohibited from accepting or placing trades za pumpo for any customer accounts except for the liquidation of existing customer positions and are prohibited from distributing, za pumpo disbursing or transferring any funds, including to existing customers, without the prior approval of NFA.
CFTC Sues US Bank for Unlawful Use of #PFGBest’s Seg Funds
Are you a customer of PFGBest? The CCC is working with regulators and monitoring the court on behalf of PFG customers. At this stage, we are advising customers to gather their statements and prepare for a claims or account transfer process.
Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy za pumpo process of MF Global on a pro bono basis, and informally represents thousands more in the public domain.
Interested za pumpo in helping reform the commodities industry? The CCC is working on a variety of initiatives za pumpo to strengthen the legal protections for customer property. We need your help for these efforts to succeed.
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