The Full Feed from HuffingtonPost.com: Jon Corzine Avoids Lifetime Trading Ban As Regulator Punts To Feds

The Full Feed from HuffingtonPost.com The Full Feed from HuffingtonPost.com

Jon Corzine Avoids Lifetime Trading Ban As Regulator Punts To Feds Feb 22nd 2013, 01:00 NEW YORK -- A private market regulator refused to ban former MF Global chief Jon Corzine from trading with other people's money Thursday, rejecting a motion brought before that body's board of directors to do so. The National Futures Association's decision is a blow to a vocal group within the commodities trading world who -- noting that Corzine has not been held accountable by the government for alleged crimes -- wanted to see him publicly upbraided by his peers in the market. Corzine was CEO of commodities broker MF Global in October 2011, when the firm collapsed, causing about $1 billion in losses to consumers whose money should have been safely guarded in separate accounts. In spite of congressional testimony accusing Corzine of breaking the law in the firm's final weeks, he has not been charged with any crime and is rumored to be raising cash to start a commodities-focused hedge fund. Read More...

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