The team at Confirmation.com isn't gonna let this opportunity pass them by. After being revealed as a key factor in the uncovering of the $200 Peregrine Financial fraud, founder Brian Fox and CEO Chris Schellhorn have been making the media rounds to tout their service. Last Thursday, Schellhorn to his pitch before the technology advisory committee of the Commodities Futures Trading Commission.
“This meeting was a significant step in the right direction to address the inherent weaknesses of using paper confirmations to confirm bank balances,” said Brian Fox, founder and chief marketing officer of Confirmation.com. “In addition to making some industry reforms to strengthen the regulatory system, the CFTC is looking for a technology solution for the futures industry that will provide greater safeguards on investor funds. Since Confirmation.com routes confirmation requests to the intended third party, this deters potential fraudsters from stealing investor funds and concealing the missing funds from regulators.”