Recently Turnkey Trading Partners’ President, James Bibbings, was contacted by Thomson Reuters regarding his time spent working as an auditor for the National Futures Association (“NFA”).  The story has now been published and made available through Reuters, the Huffington Post, Chicago Tribune and other highly acclaimed news sources.  In case you missed the story there are several notable quotes from Bibbings’ conversation with Reuter’s reporters.

Specifically Bibbings spoke on the developing catastrophe at Peregrine Financial Group and how it relates to NFA saying:

“James Bibbings, a former NFA auditor, said the NFA typically hires people straight from college with bachelor degrees or higher in finance or accounting.

Bibbings, who is now CEO of Turnkey Trading Partners, a regulation and compliance consultancy for futures trading firms, acknowledged that most hires don’t have much real-world market experience, but he said the NFA’s training is solid.

“Unfortunately if someone is prepared to go to the extraordinary lengths necessary to carry out a fraud, as it looks like we’ve seen at PFGBest, it won’t always be possible to catch it right away,” he said. “No amount of regulation or auditors can stop outright dishonesty.”

Are you a CFTC registered broker looking for due diligence tips regarding your FCM?  Want to find more about how Turnkey Trading Partners might be able to help you with your regulatory needs?  Read the full article “Best Regulator Known for Inexperienced Auditors” then contact TTP today to find out why our expertise and industry experience is being sought out by the global media.

Phone: (312) 324-0040