A federal court in New York ordered MF Global Holdings to-pay $100 million fine and ensured that the $1.2 billion of customer funds that were “unlawfully” used by the brokerage would be returned in full, a Commodity Futures Trading Commission statement said. Details of MF Global’s settlement Details of the settlement, released on Christmas Eve, were agreed upon earlier in the month, a Reuters report notes. The $1.2 billion in customer restitution solidifies previous legal rulings that ultimately ordered both customer money and debts to creditors to be paid in full. MF Global had excess cash when a decision to declare bankruptcy…
CFTC Fines MF Global For "Unlawful" Activity, One Target Remains
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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