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  • Exclusive: U.S. probing failed broker PFGBest's use of small auditor (chicago style)

    07/12/2012 4:28:06 PM PDT · by dynachrome · 1 replies
    Chicago Tribune ^ | 7-12-12 | Sarah N. Lynch and Nick Carey
    U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to audit its books, according to a person familiar with the matter. Experts said the use of such an auditor should have been a red flag to regulators of a futures brokerage with more than $500 million in assets and several hundred employees across the United States as well as in Shanghai and Canada