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The PFG bankruptcy proceedings are turning into a tragedy for PFG's retail forex customers who may now be forced to stand by and watch their funds be used to reimburse customers who traded on-exchange futures with PFG. In response, a group of traders have started a website to try and rally...

The PFG bankruptcy proceedings are turning into a tragedy for PFG's retail forex customers who may now be forced to stand by and watch their funds be used to reimburse customers who traded on-exchange futures with PFG. In response, a group of traders have started a website to try and rally...

The CFTC has released a transcript from the public roundtable that was held in August. http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/transcript080912.pdf While retail forex is absent from the discussion the issues pertaining to FCM’s is of importance to retail forex...

The CFTC has released a transcript from the public roundtable that was held in August. http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/transcript080912.pdf While retail forex is absent from the discussion the issues pertaining to FCM’s is of importance to retail forex...

Reuters has just published an exhaustive two part special report on the fraud perpetrated by Russ Wassendorf. Wassendorf spent tens of millions of dollars on luxury items and in failed business ventures with money stolen from client accounts. Part One...

Reuters has just published an exhaustive two part special report on the fraud perpetrated by Russ Wassendorf. Wassendorf spent tens of millions of dollars on luxury items and in failed business ventures with money stolen from client accounts. Part One...

Many PFG customers have had a hard time with the CFTC's position opposing the distributions. Your sarcasm is justified danger kitty.

The federal bankruptcy judge in the PFG case authorized a series of initial customer distributions today. http://www.foxbusiness.com/industries/2012/09/20/pfg-best-customers-to-get-money-back/ The fate of PFG's retail forex customers remains in doubt. The CFTC has yet to announce their...

The National Futures Association has added some additional public financial information on their BASIC search function effective September 1: http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=4109 These actions are a step in the right direction. Clearly, regulators believe that...

The National Futures Association has added some additional public financial information on their BASIC search function effective September 1: http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=4109 These actions are a step in the right direction. Clearly, regulators believe that...

As regulators continue to investigate PFG news is coming out showing that the futures firm had been losing money for years: http://www.valuewalk.com/2012/09/pfgbest-in-more-trouble-as-liabilities-outweigh-assets/ QUOTE: "Its financial statement submitted to the court, indicated that...

As regulators continue to investigate PFG news is coming out showing that the futures firm had been losing money for years: http://www.valuewalk.com/2012/09/pfgbest-in-more-trouble-as-liabilities-outweigh-assets/ QUOTE: "Its financial statement submitted to the court, indicated that...

Last week the Trustee of PFG's estate announced a series of limited distributions to customers of the bankrupt firm. Of interest to retail forex traders is that the estate is not making any current distributions to PFG customers who were trading off-exchange forex...

Last week the Trustee of PFG's estate announced a series of limited distributions to customers of the bankrupt firm. Of interest to retail forex traders is that the estate is not making any current distributions to PFG customers who were trading off-exchange forex...

Next Wednesday morning the CFTC will be holding a meeting where they are expected to announce additional post-PFG customer protections. As I discussed in my previous post the absence of any language pertaining to off-exchange, retail forex transactions in the bankruptcy code is the given reason...

I've been asked why retail forex does not have seg funds protection and so I wanted to pass along this brief regulatory history of the retail foreign exchange market: In 2001 retail online currency trading was regulated for the first time with the passage of the Commodities Futures...

I've been asked why retail forex does not have seg funds protection and so I wanted to pass along this brief regulatory history of the retail foreign exchange market: In 2001 retail online currency trading was regulated for the first time with the passage of the Commodities Futures...

You are correct in stating that "seg funds" is a steep hill for NFA to climb at the moment because of the way the current law is written. My point is not to demand NFA do the impossible. Rather, my fear is that retail forex is being forgotten amidst the collapse of PFG, in which thousands of...

We've been told by the NFA that the instant "view only" bank account access that FCM's must now grant to the NFA is not applicable to Forex Dealers. In short, NFA is not requiring forex dealers provide the same instant bank account access that Futures Commission Merchants provide. This is the...

Very true.