The Commodity Futures Trading Commission reviewed operations at Peregrine Financial Group Inc. at least twice in the past six years without detecting the fraud that led to the collapse of the futures broker and a $200 million shortfall in client funds.
The CFTC conducted examinations at Peregrine — commonly referred to as PFGBest — in 2007 and 2008, according to a list obtained through a public-records request. The list, comprising exams between 2006 and Nov. 9, 2011, doesn't detail the records or procedures evaluated.
A third review was listed last year.
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