Peregrine Puts CFTC In Hot Seat With MF Global Deja Vu

Law360, New York (July 10, 2012, 6:50 PM EDT) -- With more than $200 million in customer money missing from its accounts, collapsed brokerage Peregrine Financial Group Inc. has dealt another blow to a futures industry still reeling from MF Global Inc.'s implosion nine months ago, further souring investor confidence in the ability of the market's chief regulator to prevent future frauds.

On Tuesday, the U.S. Commodity Futures Trading Commission sued Peregrine Financial Group, better known as PFGBest, for allegedly failing to properly segregate customer funds. But investors and other industry insiders complained the agency's action...
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