(Reuters) - Less than nine months after MF Global's collapse sent shockwaves through U.S. futures brokerages, news that more than half the customer funds at Iowa-based PFGBest are missing is threatening to shatter the fragile confidence in the industry. PFGBest on Monday told its foreign exchange and commodities customers that their accounts had been frozen after an apparent suicide attempt by its chairman.
Months after the failure of MF Global, regulators are scrambling to deal with the collapse of PFGBest, which is missing more than $200 million in customer money. Read Post
It feels like doomsday at mid-size Iowa futures brokerage PFGBest, where $220 million in customer funds have gone missing, accounts have been frozen by an industry regulator and the company’s chief executive attempted suicide Monday... Read Post