On Thursday July 12th 2012, Melinda Schramm, Founder and Chairman of the NIBA was iin Washington, DC to discuss with CFTC official issues surrounding the collapse of PFG including orderly liquidation of customer positions.
"The NIBA is stunned and outraged by the apparent actions of PFG and its owner. The NIBA supports a thorough investigation into the apparent fraud and deceptions, and if warranted, the prosecution of those involved," she said.
Ms. Schramm added that, "The NIBA is continuing to work with the CME Group, the FCM community and other industry leaders to assure our customers that the industry is stable, and to help craft solutions to prevent failures such as this and that of MF Global, from ever reoccurring."