Tag: FCM

07 Nov 2011

Continued Complications in the MF Global Mess

Many were hoping that the weekend would bring some clarity to the MF Global situation. Unfortunately, things are, if at all possible, more muddled than ever. While sentiment soared upon learning the CME had brokered a deal that would unlock some of MF Global client funds, as we pointed out last week, the rejoicing was […]

16 Nov 2011

How to Save the Futures Industry

To say the MF Global situation is a mess may be the understatement of the century. What began as an excuse to extol the segregated account’s safeguards against an FCM stock slide as MF Global shares lost 70% of their value in a week rapidly morphed into a full-fledged industry disaster as bankruptcy papers were […]

19 Dec 2011

Conflict of Interest Behind Conflicting Testimony?

As testimony on Capitol Hill has continued, MF Global’s collapse has become (if possible) even more dramatic. Corzine’s strategy of pushing plausible deniability in his testimony fell apart with the testimony of the CME’s Terry Duffy, who argues that the law was broken and Corzine knew about it. At this point, the question has become […]

09 Jul 2012

Dear Congress

In light of the catastrophe unfolding at PFGBest, what plan does our government have for futures regulation? Budget cuts, if you can believe it.

10 Jul 2012

PFGBest: Regulator Fail

Additional details in the PFGBest story have surfaced, and the case that the nation’s regulators have fundamentally failed in their duties grows stronger. If these allegations are accurate, the magnitude of the regulatory failure in this case is truly astonishing.