Revelations that $200m of client money is missing at Peregrine Financial Group could not come at a worse time, regulators need to toughen up to protect not just the clients but the industry as a whole.
Something is clearly wrong. Within the space of nine months,
almost $2bn of client money has gone missing in two separate
Regulators have a duty not just to protect the end user but
also to protect the firms in the industry who abide by the
Clients of the industry must be able to trade with
confidence and hardworking and honest FCMs have the right to go
about their daily business without a cloud of suspicion hanging
over their businesses.
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