The Seventh Circuit Court of Appeals on Friday vacated an August ruling that allowed Bank of New York Mellon (BONY) to maintain priority over former customers of Sentinel Management Group to funds it loaned to Sentinel.
Democrat members of the House Financial Services Committee urged further regulatory action against MF Global in a report yesterday, saying the firm “blatantly misled” regulators about its sovereign debt holdings.
MF Global Holdings Ltd.’s U.K. administrators won the first round of a dispute with its New York brokerage arm over the value of internal trades used by the company to bet on distressed European sovereign debt.
The MF Global debacle rocked the futures industry and its full impact is yet to be felt. We talked to some industry veterans regarding the fallout of MF Global in the industry and its regulatory processes. Here is what they had to say.