The U.K. Financial Conduct Authority has started an inquiry into how the so-called ISDAfix rate is set in British pounds, widening a price-manipulation probe into benchmark interest-rate swaps that began in the U.S.
Former MF Global Holdings Ltd. Chairman and Chief Executive Officer Jon S. Corzine helped accelerate the futures brokerage’s demise with risky business strategies and mismanagement, according to a report by bankruptcy trustee Louis Freeh.
As guests dined on tea-smoked quail at a party in Washington last month, Lieutenant General Douglas Lute , President Barack Obama ’s coordinator for Afghanistan policy, stood to offer praise for a new report.
Jon S. Corzine, former chairman and chief executive officer of MF Global Holdings Ltd., Bradley Abelow, chief operating officer and Henri Steenkamp, chief financial officer, testify before the Senate Agriculture Committee on the collapse of the New York-based brokerage. (This is part 1 of the second of three panels appearing before the committee. Source: Bloomberg).
MF Global Holdings Ltd., the holding company for the broker-dealer run by ex-Goldman Sachs Group Inc. co-chairman Jon Corzine, filed for bankruptcy protection as it seeks to reorganize after making bets on European sovereign debt. Its broker-dealer unit, MF Global Inc., faces liquidation.
Citigroup Inc., whose $285 million settlement with U.S. regulators over a collapsed collateralized debt obligation was faulted by a federal judge as too lenient, may have to pay more money to avoid admitting it did anything wrong, said lawyers following the case.
Jon S. Corzine, the former chairman and chief executive officer of MF Global Holdings Ltd., told lawmakers he “never gave any instructions to misuse customer funds” and didn’t give orders that could be misconstrued.
U.S. authorities are investigating whether MF Global Holdings Ltd. intentionally tapped customer funds to cover the bankrupt firm’s margin payments on European government bond trades while lawmakers press top company officials on the possible misuse of as much as $1.2 billion.