*snip* The accusations began on Monday when Peregrine’s front-line regulator, the National Futures Association (NFA), hit the firm with an enforcement action prohibiting it from doing any more business after finding that it failed to meet key financial requirements. Yesterday the CFTC, a U.S. regulator, got involved and sued Peregrine for fraud by misappropriating customer funds, violated customer fund segregation laws, and made false statements in financial statements filed with the Commission. This isn’t just another firm going bust because for the second time in less than a year customer funds that should have been protected have gone missing amid...
