MF Global redux as regulator says PFGBest client funds missing
By David Sheppard and Tom Polansek
NEW YORK/CHICAGO | Tue Jul 10, 2012 12:08am EDT
(Reuters) – Less than nine months after MF Global’s collapse sent shockwaves through U.S. futuresbrokerages, 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. A few hours later, an industry body said….”