The U.S. futures regulator acknowledged on Tuesday that the regulatory system “failed” the customers of Peregrine Financial Group, which collapsed last week as its founder admitted he had committed a $100 million fraud that spanned two decades. In testimony before the Senate Agriculture Committee, Commodity Futures Trading Commission Chairman Gary Gensler will outline his agency’s plans to contain the fallout from the Peregrine case, which has shaken investor confidence in the futures markets. Read Reuters report here.
