Monday, 31 August 2015
Last updated 2 days ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…