Posted on 03/08/2013 4:13:14 PM PST by Libloather
The National Futures Association, the self-regulatory group for the futures industry, faced an obstacle in considering a lifetime ban for Jon S. Corzine, the former Democratic senator who ran the now-defunct MF Global: Mr. Corzine isn’t a member, DealBook’s Ben Protess writes.
The group convened on Thursday with two of its board members pushing for a ban of Mr. Corzine as punishment for his role in the demise of MF Global, which improperly used customer money. Mr. Corzine’s lack of membership wasn’t the only stumbling block. The group’s chairman said in a statement that the board “does not wish to take any action that could interfere” with “ongoing investigations concerning Mr. Corzine’s activities at MF Global.” Once the investigations wrap up, “N.F.A. has the authority to bring disciplinary action against Mr. Corzine for violations of any N.F.A. rules that occurred while he was a member,” said the chairman, Christopher Hehmeyer.
(Excerpt) Read more at dealbook.nytimes.com ...
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