The Commodity Futures Trading Commission unanimously approved new customer protection rules yesterday in response to MF Global’s demise one year ago and the revelation of fraud PFGBest earlier this year.
A group of Peregrine Financial Group (PFG) forex and metals account holders are asking a judge to order Trustee Ira Bodenstein to return these accounts to customers, arguing that they should not be considered assets of the estate.
Yesterday’s hearings of the U.S. Senate’s Agriculture, Nutrition and Forestry Committee probing the MF Global and PFGBest scandals had less fireworks than past hearings but perhaps a more serious tone.
After six months, Rep. Michael G. Grimm (R-N.Y.) and the Commodity Customer Coalition (CCC) have called on Attorney General Eric Holder to appoint an independent counsel to take over the investigation.
On Wednesday Rep. Michael Grimm (R-N.Y.) and several other Republican congressman gathered in Washington D.C. to urge Attorney General Eric Holder to appoint an independent counsel to investigate MF Global.