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.
Reached by email late Monday, Bart Chilton, a commissioner with the CFTC, said "we continue to witness circumstances which make a futures insurance fund a needed option. Such a fund is critically important. Futures customers should be protected like banking and security customers are protected."
The comments were echoed by James Koutoulas, chief executive of Typhon Capital Management. Typhon, a futures-trading firm, routed business through both MF Global and PFGBest.
Are you a customer of MF Global? The CCC formally represents more than 200 clients in the bankruptcy process of MF Global on a pro bono basis, and informally represents thousands more in the public domain.