Peregrine Likely To Take Cues From MF Global Bankruptcy

Law360, New York (July 10, 2012, 11:08 PM EDT) -- The impending bankruptcy filing from Peregrine Financial Group Inc. will likely mirror that of MF Global Inc., which should provide a blueprint for the collapsed futures broker missing $200 million in customer funds.

Peregrine, also known as PFGBest, was hit with a fraud suit Tuesday by the U.S. Commodity Futures Trading Commission claiming the company failed to maintain adequate customer funds in segregated bank accounts and can't explain a shortfall of more than $200 million. The suit came one day after the National Futures Association barred...
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