The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

MF Global settles suit over 2011 losses

Published Sun, Dec 28, 2014 · 09:50 PM
Share this article.

New York

MF GLOBAL Holdings Ltd settled a US government lawsuit, agreeing to pay US$1.2 billion in restitution and a US$100 million fine for customer losses tied to the company's 2011 collapse.

The US Commodity Futures Trading Commission (CFTC) sued MF Global and company officials including former chief executive officer Jon Corzine last year for failing to properly supervise employees as the firm spiralled towards bankruptcy. US District Judge Victor Marrero in Manhattan signed an order on Tuesday approving the pact.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Energy & Commodities

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here