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PFGBest Fallout – How Much Can Clients Expect To Recover?

|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

CFTC emergency meeting, auditor questions, who knew what when...

PFGBest logoAs regulators, clients, employees and creditors of PFGBest continue to search for answers as to what exactly happened to more than $200 million of missing client money (probably not a big mystery), and as disgraced PFGBest founder Russell Wasendorf Sr. lies in an Iowa City hospital recovering from a suicide attempt (although technically under arrest), the blame-game and fallout from the collapse of one of the United States' largest futures brokers, which also had a sizable retail FX presence, has begun.

The CFTC has summoned an emergency meeting; calls for the resignation of CFTC Chairman Gary Gensler have begun; auditor questions; who knew what when; and how much can clients expect to recover?

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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