--PFGBest's Canadian clients have their money accounted for - Regulator
--Canadian clients can liquidate their positions and prepare for a bulk transfer to new firm
--RJ O'Brien's Canadian unit named as new firm by regulator
By Tatyana Shumsky
NEW YORK--PFGBest's Canadian clients have their funds accounted for and are approved to transfer their futures accounts in bulk to a new firm, Canadian regulator Investment Industry Regulatory Organization of Canada (IIROC) said Tuesday in a statement.
Peregrine Financial Group Canada, Inc., a unit of embattled futures and currency brokerage PFGBest, isn't subject to or affected by the regulatory actions of the National Futures Association, a U.S. futures industry self-regulatory body, IIROC said.
"It appears that all clients monies and assets are accounted for at the Canadian subsidiary," IIROC said in a statement.
"Clients can liquidate their contract positions directly through Peregrine Financial Group Canada," it added.
The Canadian regulator has named RJ O'Brien & Associates Canada Inc, a unit of RJ O'Brien, as the recipient of the bulk transfers from PFGBest's Canadian unit.
Write to Tatyana Shumsky at firstname.lastname@example.org