Regulators Pledge New Rules After MF Global’s Demise
By Ben Protess
Published December 1 2011 New York Times
Federal regulators are considering a flurry of new rules for the brokerage industry after MF Global’s collapse and the revelation that customer money is missing from the firm, top officials told Congress on Thursday. The Commodity Futures Trading Commission will vote next week on a rule that would restrict the industry’s use of customer money, and the Securities and Exchange Commission could soon enforce new accounting disclosures for brokerage firms. MF Global’s bankruptcy has also renewed calls for federal regulators to more closely monitor brokerage firms rather than continue to outsource oversight duties to for-profit exchanges like the CME Group.
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