Restoring Customer Confidence

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...

Daily Reports: Tell Us Where The Money Is

In the months and days since MF Global’s collapse and the Peregrine Financial Group’s fraud, some have argued simply for more transparency from futures commission merchants (FCMs).  Scott Gordon, chairman and CEO of Rosenthal Collins Group, said his firm publicly...

Protection Fund: Slip it to SIPC

If there is one solution to restoring customer confidence in futures that has been talked about more than any other, it would be the creation of a customer or insurance fund. Securities customers have the Securities Investor Protection Corporation (SIPC), so why can’t...

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