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For Immediate Release
July 09, 2012
For more information contact:
Larry Dyekman (312) 781-1372, [email protected]
NFA takes emergency enforcement action against Chicago futures firms Peregrine Financial Group, Inc. and Peregrine Asset Management, Inc.
July 9, Chicago - National Futures Association (NFA) announced today that it has taken an emergency enforcement action against Peregrine Financial Group, Inc. (PFG), an NFA Member futures commission merchant (FCM) and Peregrine Asset Management, Inc. (PAM), an NFA Member commodity trading advisor (CTA) and commodity pool operator (CPO) located in Chicago, Illinois.
NFA has taken the Member Responsibility Action (MRA) to protect customers because PFG has failed to demonstrate that it meets capital requirements and segregated funds requirements. NFA also has reason to believe that PFG does not have sufficient assets to meet its obligations to its customers.
Effective immediately, PFG and PAM are prohibited from soliciting or accepting any additional customer accounts or customer funds, except as margin for existing positions. Additionally, PFG and PAM are prohibited from accepting or placing trades for any customer accounts except for the liquidation of existing customer positions and are prohibited from distributing, disbursing or transferring any funds, including to existing customers, without the prior approval of NFA.
PFG and PAM may request a hearing on this matter before NFA's Hearing Committee.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
I have an account there of which I stopped using because their accounting was bad.
There were times I thought it might be me, but every time I dug in it was mistake after mistake...
All accounting furnished on hard to read PDF files alongside an archaic customer portal (lacking any real accounting information).
Shady dealings at every corner, system malfunctions, etc...
Trading is tricky enough without a broker screwing you up...
i opened and funded my account very recently. i did not receive an email either. the last email was, trade confirmation, when i closed the last trade at 1.25 pm for today.
i tried reaching the broker and no one is responding. the customer reps have no clue. will have to wait.
isnt this FDIC insured?
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter