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.