It notes that Corzine had lobbied the agency and had discussions with Gensler regarding Rule 1.25, which deals with the types of securities in which an FCM can invest customer money. The CFTC had a rule proposal out that would limit the instruments FCMs could invest money in and MF Global was opposing the rule change, which was eventually approved after the collapse.
The letter also points out that Corzine was recently listed as a”first quarter volunteer fundraiser” for President Obama’s re-election campaign. The President had returned direct contributions from Corzine following the collapse but not money Corzine had raised as a bundler.
The MF Global collapse is being investigated by the Federal Bureau of Investigation, the Justice Department, the CFTC and two separate trustees, one representing former customers of the FCM/BD and one representing creditors of the Holdings company.