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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note