Back when the U.S. futures industry was reeling from the missing client funds at MF Global, an Iowa-based broker called PFGBest commissioned a white paper on protecting customers’ segregated accounts. “Commodity Customer Protections and Regulations History and Potential Solutions for the Future,” it was called.

And yes, that was the same PFGBest that froze customer accounts yesterday after owner Russell R. Wasendorf Sr. attempted suicide, and amid allegations by National Futures Association that the firm was short some $220 million in client funds. An excerpt (you can read the entire paper at Alphaville): Read More