$200m missing from PFGBest

The US futures trading industry reeled yesterday as federal regulators accused Iowa-based broker PFGBest of misusing over $200m in customer funds for more than two years, resurrecting the shock of MF Global’s collapse. The Commodity Futures Trading Commission said that the broker’s regulated Peregrine Financial Group unit and its owner had failed to maintain sufficient capital in segregated accounts since at least February 2010.