Futures brokerage PFGBest shut amid funding questions
NEW YORK (CNNMoney) -- Accounts of futures brokerage PFGBest have been frozen by the National Futures Association, which says the firm has insufficient funds to carry out its trades.
The association, which regulates the futures industry, said it took an "emergency enforcement action" against PFGBest's parent organizations, Peregrine Financial Group and Peregrine Asset Management, after the amount they reported on deposit at U.S. Bank was about $200 million more than was actually held by the bank. – Full article at the link below.
July 10, 2012 (Source: CNN Money)