Former MF Global CEO Jon Corzine faces an uphill battle if he ever wants to trade in the futures market again. At its quarterly meeting of board directors, the National Futures Association (NFA) discussed imposing on him a lifetime ban on Corzine on trading in the futures markets.
In a year dominated by crises — both natural and political — squeezing our annual list of largest influencers down to 20 was difficult. One thing this year highlighted was that money and power trump all as we learned that — at least in the banking world — there are some that are too-big-to-prosecute.
A judge on Wednesday held off approving a deal between the trustee unwinding the brokerage of MF Global and CME Group that calls for the futures exchange operator to turn over about $130 million in property that will go to former customers.
The Managed Funds Association (MFA) may be regretting inviting Commodity Customer Coalition (CCC) co-founder James Koutoulas to speak at its recently concluded Forum 2012 conference in Chicago this week.
James Koutoulas made an interesting claim in a conversation with CNBC last week. He indicated that he has inside information from sources within JP Morgan that the bank is holding up to $600 million in former MF Global customer money.