PFGBest's Canadian Clients' Money Is Accounted For-Canadian Regulator

Date : 07/10/2012 @ 2:32PM
Source : Dow Jones News
Stock : Cme Grp. Inc. (MM) (CME)
Quote : 116.08  0.96 (0.83%) @ 1:41PM

PFGBest's Canadian Clients' Money Is Accounted For-Canadian Regulator

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--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 tatyana.shumsky@dowjones.com




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