The main U.S. futures regulator is facing renewed scrutiny after suing Peregrine Financial Group Inc. for a customer funds shortfall nine months after MF Global Holdings Ltd. collapsed.

The Commodity Futures Trading Commission filed a complaint against Peregrine in federal court in Chicago yesterday after an industry-run regulator cited a $200 million shortfall in customer segregated funds. The National Futures Association said the brokerage's chairman may have falsified bank records after only $5 million was found in an account that was reported to have $225 million on or about June 29.

Peregrine is under investigation over the alleged missing funds after Russell Wasendorf Sr., the firm's chairman and chief executive officer, unsuccessfully attempted suicide. Republicans who scolded the CFTC over its handling of MF Global cited similarities to the New York brokerage's failure.

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