Tag Archives: pfg
If there is a way to cheat clients, they’ll figure it out in the forex industry! The CFTC announced yesterday that the Federal Court of Massachusetts imposed a $600,000 on Jeffrey Liskov and his company EagleEye Asset Management for committing …
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Across the FX world trade volumes were significantly lower from June 2012 and July 2011. The negative market sentiment has been prevalent across the summer as represented by August figures. Despite the negativity US based financial service providers managed to show a …
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As every month (almost) CFTC releases some data that is being reported to it by its FCMs (including forex brokers). From this month we’ll start surveying all brokers who hold ‘retail forex funds’, not just forex brokers per-se as we …
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Worldspreads failure and subsequent administration, what the NFA could learn from the UK’s FSA and FSCS..
11
2012
As the scandal of PFG Best has exploded over the past 48 hours, and the ongoing crisis of the collapse of MF Global shows little sign of reaching any conclusion, attention may once again turn to the management of the …
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Suicide is painless, the pain is always felt by those left behind..or stiffed… At the foot of the PFGBest site is a section titled “disaster recovery”. Many desperate clients, who will have visited the futures broker’s site over the past …
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Although PFG was put in liquidation-only mode by the NFA which then reported that its “highly effective” brokers supervision mechanism failed to notice that over $200 million in client funds went missing for more than 2 years, its quarterly forex profitability …
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Following up on the earlier story of NFA putting PFG in liquidation mode only NFA just released a little bit more information in its MRA action again Peregrine Asset Management Inc and Peregrine Financial Group Inc: NOTICE OF MEMBER RESPONSIBILITY ACTION: On …
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NFA shuts PFG down, puts it in liquidation only status, founder attempted a suicide
9
2012
Another MF Global incident may be looming in the horizon. PFG Best just released this dramatic statement to its clients: “Due to a recent emergency involving Russell R. Wasendorf, Sr., a suicide attempt, some accounting irregularities are being investigated regarding …
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Interactive Brokers (IB) publishes forex accounts profitability – is the largest and most ‘profitable’ broker
4
2012
Update: I’ve just confirmed it with IB, their numbers include all clients who’ve traded forex in a given quarter. Since IB has a massive clients base it means that if someone trades equities for a living and made an fx …
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NFA fines PFG $700,000; bars it from accepting new IBs for two years for deficient IB practices
9
2012
Now this is a business killer. NFA just settled with PFG by fining it $700,000 and requiring it not enter into guarantee agreements with IBs for two years subject to an opportunity to request modification of this restriction. Peregrine, Wasendorf, O’Meara …
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