A federal judge struck down another portion of the Obama administration’s Dodd-Frank rule that limited speculative trading on the oil market. The New York Times reported that Judge Robert L. Wilkins of the U.S. District Court for the District of Columbia sent the rule back to the Commodity Futures Trading…
The head of collapsed US futures broker Peregrine Financial Group was arrested Friday on criminal charges, days after he apparently attempted suicide and confessed to fraud in a signed statement. Russell Wasendorf, the sole owner and chief executive of Iowa-based PFG, admitted in the suicide note that he had embezzled…
NEW YORK — US futures brokerage Peregrine Financial Group filed for bankruptcy protection late Tuesday amid fraud allegations by regulators and after its founder attempted suicide. PFG, also known as PFG Best, filed a Chapter 7 bankruptcy, which involves the sale of assets to pay off creditors. The liquidation filing…
NEW YORK — Eight months after the shock bankruptcy of MFGlobal, another respected futures brokerage, PFG, is being sued for fraud by US regulators in the latest black eye to confidence in futures trading. In a complaint filed Tuesday in an Illinois federal court, the US Commodity Futures Trading Commission…