CFTC Fines MF Global

Dec 18 2009 | 10:27am ET

The Commodity Futures Trading Commission has fined MF Global $10 million for supervisory failures, most of which occurred while the futures broker was still part of the Man Group.

The CFTC cited four instances of risk supervision failures between 2003 and 2008, a year after Man spun off the brokerage. Earlier this year, the London-based hedge fund giant sold off its remaining shares in MF Global.

The CFTC found that MF Global, which still part of Man, failed to ensure appropriate transmission of price indications on natural gas futures to its voice brokerage customers. It was also rapped for failing to diligently supervise the preparation of trading cards and written trade authorizations.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.