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MF Global News (12/1/11 AM)

The latest news on the MF Global bankruptcy and fallout, published in the John Lothian Newsletter (subscribe here) the morning of December 1, 2011.

In the wake of the MF Global bankruptcy, John Lothian Newsletter has created a special section on JohnLothianNewsletter.com devoted to news, information and commentary. The section features archived news stories featured in the John Lothian Newsletter, analysis and breaking news. Check regularly for updates. See the MF Global news section here.

MF Global sets up CFTC fight over costs, security
By Ronald D. Orol, MarketWatch
WASHINGTON (MarketWatch) — MF Global’s bankruptcy and an estimated $1.2 billion in missing customer funds there is setting up a battle at the Commodity Futures Trading Commission over customer costs and whether investors should have their funds parked in separate bank accounts out of the reach of commodity merchants like the failed firm.
http://jlne.ws/sz26O6

Ex-FBI chief pledges independence in MF Global case
By Nick Brown
(Reuters) – The trustee tapped to control the assets of MF Global Holdings (MFGLQ.PK) promised an “independent” approach to the futures broker’s bankruptcy in his first public comments since accepting the post.
http://jlne.ws/rKXSZ5

State investment board decided against MF Global action
The Charleston Gazette
CHARLESTON, W.Va. — The state Investment Management Board has decided, for now, not to pursue legal action against a bankrupt global financial derivatives broker that cost the state $5.2 million in investment l…
http://jlne.ws/rYjAp7

Senators to probe regulators’ role in MF Global
By Christopher Doering and Sarah N. Lynch – Reuters
(Reuters) – Senators plan to press regulators on Thursday on whether they were asleep at the switch as now-bankrupt MF Global (MFGLQ.PK) took on massive risky bets, and why hundreds millions of dollars in customer funds are still missing.
http://jlne.ws/sGydqk

MF’s Money Trail Zigzags
Regulators Are Vexed by and Sometimes at Odds Over Failed Firm’s Funds
BY SCOTT PATTERSON AND AARON LUCCHETTI – WSJ
Regulators poring over MF Global Holdings Ltd.’s books have been flummoxed by a tangled money trail that crosses borders and different parts of the securities firm. The hunt for hundreds of millions of dollars in missing customer money has even put the regulators at odds.
http://jlne.ws/vTKH3P

SGX Completed The Transfer Of Margins And Positions For Customers Of MF Global Singapore
Press Release
Singapore Exchange (SGX) has successfully completed the transfer of margins belonging to customers who hold accounts directly with MF Global Singapore Pte Limited (MFGS) to their alternative clearing members on 25 November 2011.
http://jlne.ws/usRyHe

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