Chairwoman Stabenow Calls for Increased Oversight in Wake of Peregrine Financial Group Failure

Senator Debbie Stabenow, Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, today issued the following statement regarding the failure of financial firm Peregrine Financial Group and the reported hundreds of millions of dollars in customer funds that are potentially missing.

“It is absolutely imperative that there is accountability in the futures markets so customers can feel safe knowing their money is protected,” Chairwoman Stabenow said. “We are working closely with regulators to find out what happened because farmers and small businesses need assurances that their funds are safe from reckless or criminal activity. Congress also has a responsibility to assess current customer protections and strengthen them where needed to put a stop to executives misusing customer funds in the future.”