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PFGBest Insisted It Was Nothing Like MF Global, Months Before Collapsing Like MF Global
Jul 10th 2012, 22:42

Are you getting collapsed brokerage firm PFGBest confused with collapsed brokerage firm MF Global? It's understandable! They're both commodity brokerage firms with a lot of consonants in their names. They both collapsed suddenly, making a bunch of customer money vanish. But less than nine months ago, PFGBest, a unit of Peregrine Financial of Cedar Rapids, Iowa, went out of its way to tell clients it was nothing at all like MF Global. In a Nov. 1 statement on the firm's website, just after MF Global filed for bankruptcy, Peregrine's president and chief operating officer, Russ Wasendorf Jr., told his customers they had no reason to fear Peregrine...

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