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PFGBest Accounts Frozen (PFG scandal big thread)
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PFGBest Accounts Frozen (PFG scandal big thread)

  #641 (permalink)
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live linkage pls


Market Sniper 88 View Post
6:14p
BREAKING
Peregrine Financial CEO indicted on 31 counts

pls also post a live linkage here, if you have it handy.

thx much.

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  #642 (permalink)
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nakachalet View Post
pls also post a live linkage here, if you have it handy.

thx much.

Peregrine chief Wasendorf indicted on 31 counts - MarketWatch

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  #643 (permalink)
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I wonder what happens to the money from the fine IF he's able to pay it. I mean, who is the beneficiary of that money? Is it going to come out of the liquidation/settlement?

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  #644 (permalink)
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just about the latest news on pfg et al

just showed up a minute ago.

didn't even read it yet.

enjoy.

Attain Capital Managed Futures Blog

a brief summary to help those who have very limited time on hand:

The NFA, as a quasi-governmental agency, enjoys very little liability for their action or inaction under the pretense of facilitation of their purpose. After all, if there’s the risk of them getting sued for every member responsibility action, it becomes difficult for them to do their job. However, despite this luxury, they are not held to any of the other standards we assign to governmental agencies – including transparency.

While the House Committee on Agriculture called for us to, in essence, clean up our own mess, we cannot do that without the transparency necessary to compel accountability. The PFGBest case has highlighted incompetency, but in its wake, allegations raised cast serious doubt on their hiring policies, consistency in application of the rules, and responsiveness to members. As Commissioner Chilton said himself today, “The regulators should be held accountable.”

To remedy this, we would argue that the CFTC should compel heightened transparency to facilitate this accountability, including, but not limited to:

Requiring release of board meeting minutes as a matter of public record
Requiring release of materials used in member responsibility action formation as a matter of public record
Requiring quarterly public meetings with the NFA leadership and board with an open questioning period
Institution of a “vote of no confidence” stipulation in the bylaws, allowing for the industry to unseat the NFA president by membership vote should 10% of the membership base call for consideration

These are trying times, and we thank you for your drive to protect clients. We hope you will take these proposals into consideration.


Last edited by nakachalet; August 14th, 2012 at 06:46 AM.
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  #645 (permalink)
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  #646 (permalink)
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Wasendorf arraignment set for Friday - Chicago Tribune


Last edited by Cloudy; August 16th, 2012 at 01:31 AM.
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  #647 (permalink)
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Video - Peregrine's dramatic downfall involved a suicide attempt and an alleged multi-million-dollar fraud - WSJ.com

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  #648 (permalink)
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Mug shot.

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  #649 (permalink)
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Arraignment tomorrow 11am.

PFG founder slated to appear in court Friday

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  #650 (permalink)
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Tentative Oct. 15th date for trial.

Peregrine's Wasendorf pleads not guility - chicagotribune.com

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