In opening an account with a futures FCM they are requesting me wire money to Harris Bank. I read online that Harris Bank is the "starting point" to an investigation on MF Global as much of the money was or is held there, any thoughts on the safety of Harris Bank? Anybody know if RCG (not the fcm I'm referring to) also holds its assets at Harris Bank, or do they all hold money in different places?
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FCM/Harris Bank
- Thread starter grg03002
- Start date
actually
another Canadian bank, RBC - the Royal Bank of Canada is fighting a law suit brought
against the bank as a result of a ponzi scheme:
"The suit before the Superior Court of Quebec alleges RBC's Beaconsfield branch where
Jones conducted most of his business, was aware that Jones was exploiting his
personal account for his financial dealings.
He deposited cheques with double endorsements and forged signatures.
The bank has offered victims a $12.5-million settlement but the protesters said
victims will continue to seek the $40 million outlined in their lawsuit."
http://www.cbc.ca/news/canada/montreal/story/2011/07/16/montreal-jones-protest-716.html
IF Harris were to be sued for MF G's losses, they'd be a long way down the line
and have the funds to cover a judgement against them, but the way things are
going with MF G, the CME might be looking at being sued and the CFTC since
the investigation suggests MF G was using client funds far longer than a couple
of days before the bankruptcy - if they didn't know, they should have known
another Canadian bank, RBC - the Royal Bank of Canada is fighting a law suit brought
against the bank as a result of a ponzi scheme:
"The suit before the Superior Court of Quebec alleges RBC's Beaconsfield branch where
Jones conducted most of his business, was aware that Jones was exploiting his
personal account for his financial dealings.
He deposited cheques with double endorsements and forged signatures.
The bank has offered victims a $12.5-million settlement but the protesters said
victims will continue to seek the $40 million outlined in their lawsuit."
http://www.cbc.ca/news/canada/montreal/story/2011/07/16/montreal-jones-protest-716.html
IF Harris were to be sued for MF G's losses, they'd be a long way down the line
and have the funds to cover a judgement against them, but the way things are
going with MF G, the CME might be looking at being sued and the CFTC since
the investigation suggests MF G was using client funds far longer than a couple
of days before the bankruptcy - if they didn't know, they should have known