PFGBest Update: What We’re Hearing

The PFGBest scandal continues to unfold. Here’s the latest:

  • The CFTC has filed a formal complaint, and the FBI is investigating.
  • The NFA has contacted PFG clients directly. They’ve put this up on their website.
  • Canadian segregated funds are not missing. It’s going to RJ O’Brien.
  • Liquidation is underway for clients. After a delay, they are now sending confirmations on the trades out.
  • Rumors are circling that regulators are pushing Jeffries to take accounts temporarily in order to facilitate transfers.
  • Questions have come regarding who might be responsible for the accounting error. Wasendorf, Sr. had largely stepped away from operations several years ago, serving more as a figurehead, with Wasendorf, Jr. taking over control of company operations. No one has answers at this hour.

We’ll update you with more as it comes out.


  1. Dear Sirs,

    I am a PFG customer and I would like to join your task force and be informed of the developments surrounding PFG’s debacle. Thank you

  2. […] partner. kanns net kettenreaktion geben?…broker-frozen/ http://managed-futures-blog.attainca…-were-hearing/ As you have probably heard the NFA and CFTC have stepped in to freeze the assets of PFG. In part […]

  3. Please keep us up to date. I had an account with PFGbest for many years. I am shocked!

  4. Please keep us updated on events as they happen. I am a client of PFG Best and I have not been notified by anyone… except by Joe Rios of Rios Quanatative. I have had no contact with PFG Best nor anyone else.

  5. You suppose it would do any good to file suit against NFA, CFTC and SIPC ? I wrote to my Senator but a lot of good that will do.

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