PFGBest mess raises systemic issues for futures industry

#PFGBest Customers

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.

Stay tuned to our website for more information.

John Roe co-founder of the Commodity Customer Coalition said “here we go again.” In an e-mailed statement Roe says, “Yesterday’s revelations regarding PFGBest should dispel the notion that serious reforms are not merited in the wake of MF Global’s collapse. Since the year 2000, four of the 15 largest bankruptcies in U.S. history included firms who had FCM operations (Enron, Refco, Lehman, MF Global). The list would be larger had Merrill Lynch and Bear Stearns not been forcibly acquired by other firms. Something is clearly seriously wrong with this industry and the regulatory scheme that governs it.”

Full article at Futures Mag- http://www.futuresmag.com/2012/07/10/pfgbest-mess-raises-systemic-issues-for-futures-in?page=2

#MFGlobal Customers

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.

Get the latest news on #MFGlboal.

About James Koutoulas 209 Articles
Co-Founder and lead attorney of the CCC, CEO of Typhon Capital Management and Typhon Securities.

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