Mf Global, Brokerage Firm | featured news

Jon Corzine's aggressive bets on European sovereign debt while head of the MF Global Holdings Ltd brokerage led to the firm's dramatic collapse in 2011, according to a report by the bankruptcy trustee.

Lawmakers asked Christine Serwinski, the chief financial officer for the firm’s North America operations, why she didn’t tell regulators about her concerns before the firm’s bankruptcy.

As MF Global was in the final throes of a fatal cash crisis, CEO Jon Corzine gave "direct instructions" to transfer $200 million of customer funds to cover an overdraft, according to a congressional memo released Friday.

Executives at MF Global wouldn't appear to be model candidates for bonuses.

The trustee for MF Global's fallen brokerage said he is nearly halfway through the process of determining the validity of more than 25,000 claims from commodities customers burned by MF Global's collapse.

Gabe Sherman argues that Dodd-Frank has already ended Wall Street as we know it. So how did MF Global go up in flames last year? The brokerage firm’s bankruptcy was mostly the outcome of failed, risky bets it placed through complex derivatives, and it lost an estimated $1.2 billion of its customers’ money in the process.

U.S. lawmakers investigating the collapse of futures brokerage MF Global showed frustration with the firm's leaders about what happened to hundreds of millions of dollars in missing customer funds.

A lawyer for James W. Giddens, the trustee, said the investigation into MF Global had shown suspicious transfers from the so-called segregated accounts that still appear to have a substantial shortfall.

Jon Corzine told a congressional panel Thursday that he never intended to break rules requiring failed securities firm MF Global to safeguard client funds. He also said he doesn't know what happened to an estimated $1.2 billion that went missing.

The amount of customer funds missing from accounts at the bankrupt brokerage MF Global “may be as much as $1.2 billion or more,” the trustee overseeing the firm’s liquidation said Monday. That would be roughly double previous estimates of about $600 million. In a statement, trustee James W. Giddens said the estimate is preliminary and “may well change.”