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House to question regulators over Peregrine


Regulators from the Commodities Futures Trading Commission (CFTC) and the National Futures Association will face questions from the U.S. House of Representatives today on how fraud went unnoticed at Peregrine Financial Group Inc. in Cedar Falls.

The regulators will be questioned by the House Agriculture Committee.

Although we do not yet know the full facts of what happened in this matter, it is clear the system failed to protect the customers of Peregrine,” Gary Gensler, chairman of CFTC, said in written testimony.

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