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PFGBest Bankruptcy Renews Call To Review Regulators' Role In FX

|Includes:Ameriprise Financial, Inc. (AMP), AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FX, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, JPM, LUK

Raises questions as to what CFTC and NFA regulators actually do.

PFGBest logoFollowing what happened recently at MF Global in the US and WorldSpreads in the UK, it was not such a shocking surprise in the FX world when news broke of yet another apparent FX ponzi scheme and misuse of client funds, this time at US-based PFGBest.

While initially it seemed as though attention centered on the sensational story of the attempted suicide of high-flying PFGBest owner / founder / Chairman Russell Wasendorf Sr., when more details of the story leaked out most of the focus changed to anger at PFGBest's regulatory overseers, the CFTC and the NFA, and the questioning of what exactly they do.

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Stocks: AMP, AMTD, BAC, BBD, BBVA, BCS, BGCP, BK, BMO, BNS, BTFRF, C, CM, CME, CS, DB, DJ, ETFC, FB, FTGI, FX, FXCM, GCAP, GS, HSBC, IAPLF, IAPLY, IBKR, IGGRY, LUK, JPM