CFTC's Peregrine-Prompted Reforms May Not Fend Off Fraud

Law360, New York (July 12, 2012, 6:01 PM EDT) -- The U.S. Commodity Futures Trading Commission hustled Thursday to approve new protections for customer funds after some $220 million went missing from bankrupt brokerage Peregrine Financial Group Inc., but the move will do little to take the heat off the embattled agency or deter those bent on committing fraud, experts say.

In a private vote, the CFTC moved Thursday to adopt the so-called Corzine rule proposed in May by the National Futures Association, an industry self-regulator, according to an agency official. The rule, which was unofficially...
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