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The National Futures Association and CME Group (CME) intend to carry out a wide-ranging review...

The National Futures Association and CME Group (CME) intend to carry out a wide-ranging review of futures firms, including contacting their banks in to verify the accuracy of their statements. The review follows the collapse of Peregrine Financial, where $200M has disappeared. CFTC Chairman Gary Gensler is expected to be asked about Peregrine when he testifies at the Senate today.
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Comments (3)
  • shakazoid
    , contributor
    Comments (210) | Send Message
     
    What took them so long to realize they need to verify bank account presented by Future firms needed to be verified @ and by the banks. The last time I checked to sought credit , don't remember the back or creditor not verifying my info @ the bank or workplace.
    CFTC,SEC are the poison that is killing confidence in American Investors
    17 Jul 2012, 06:14 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    What took so long????? Because they are all of the same tribe...buddies...wink wink deals...
    17 Jul 2012, 07:28 AM Reply Like
  • Hocke41
    , contributor
    Comment (1) | Send Message
     
    They do send confirmations every audit. However, when the firm intercepts the confirms, it makes it a little harder...
    17 Jul 2012, 10:19 AM Reply Like
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