The National Futures Association issued a press release yesterday which stated 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.
Full details of the Member Responsibility Action (MRA) against PFG have also been made available, in which the NFA says:
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WorldSpreads went down the tubes in the middle of March, taking some supposedly segregated customer funds with it. Now however those long suffering customers are finally starting to get at least some of their money back, albeit from The Financial Services Compensation Scheme rather than from the administrators of WorldSpreads. According to WorldSpreads customer Rav Shah:
More on Some WorldSpreads Clients Finally Get Some Of Their Money Back
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