Wednesday, 1 October 2014
Last updated 1 hour ago
Nov 18 2013 | 12:55pm ET
MF Global Holdings will pay $100 million in fines as part of its settlement of Commodity Futures Trading Commission allegations over its 2011 collapse.
U.S. District Judge Victor Marrero in New York ordered the firm to pay $1.2 billion under the deal. Most of that is in the form of restitution to clients whose funds were misappropriated by the bankrupt futures broker.
The $100 million fine will only be paid after MF Global fully repays its customers and some creditors, the CFTC said. As part of the settlement, MF Global has admitted wrongdoing.
The deal does not cover former MF Global CEO Jon Corzine or any of the other former MF Global executives sued by the CFTC. Corzine and the others earlier this month lost a bid to have those claims dismissed.
Also earlier this month, the bankruptcy trustee overseeing MF Global said that its customers would be fully repaid by the end of the year. Some $1.6 billion disappeared from customer accounts as MF Global careened towards bankruptcy in October 2011.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...