PFGBEST

Confirmations: NFA and CME’s Financial Match.com

The fraud at Peregrine Financial Group was uncovered in July 2012 by the National Futures Association (NFA) which used an electronic bank account confirmation system. (See Confirmations: Plugging Into Electronic Confirmations) In November 2012, the NFA and CME Group...

Confirmations: Plugging Into Electronic Confirmations

Capital Confirmation, which runs Confirmation.com, is credited with helping to unveil the massive $215 million fraud at Peregrine Financial Group (PFG) in July 2012. The web-based audit confirmation service was hired by the National Futures Association (NFA) last year...

Time to Restore

We are now well past a year since MF Global's collapse seriously damaged the futures industry and now trekking toward six months since the Peregrine Financial Group went down in flames, taking more customer money with it. Since November, after spending four months...

Hehmeyer Wins Case – Back to Business

In July, I wrote a column about Alaron’s lawsuit against Chris Hehmeyer, the current NFA chairman, former CEO of Penson GHCO and current CEO of HTG Capital Partners. Well, the verdict is in. The judge in the Circuit Court of Cook County dismissed the case with...

PFGBEST: The Unanswered Question

As we search for solutions to the Peregrine Financial Group crime spree and the MF Global non-criminal (so far) implosion, answers to questions about another criminal brokerage firm blow-up go unanswered. The industry has come forward with after-the-fact solutions to...

WSJ In-Depth: Last Days – The Fall of Peregrine

Video From WSJ: The collapse of Peregrine Financial Group and the alleged confession of its former CEO, Russell Wasendorf Sr., to a multi-million-dollar fraud stunned futures traders and put regulators in the spotlight. WSJ looks in-depth at Peregrine's last days.

Something Stinks

For all of the deserved criticism the National Futures Association (NFA) is getting these days for missing the “steal and spend racket” over at Peregrine Financial Group, the latest lawsuit involving the current NFA chairman Chris Hehmeyer appears rotten. This is a...

Getting Somewhere

Just a few days removed from the National Futures Association’s live fire drill to reexamine and perhaps retool its audit functions, the CME Group brought its fire hose in the form of a letter to customers on Monday. In the letter, CME’s leaders Terry Duffy and...

I Was Robbed

My house was broken into this weekend. The back door was forced and when that didn’t give way the thief broke the door glass and opened the dead bolt by hand. From there he rifled through a few drawers – he or she took a laptop, small electronics, most of our jewelry,...

John Lothian Discusses Business Ethics on Chicago Tonight

From Chicago Tonight: A spate of financial scandals has created a crisis of confidence among many investors. We delve into the murky world of business ethics on Chicago Tonight at 7:00 pm. Check out the "Business Scandals of the 21st Century" interactive timeline...

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