Skip to comments.Banning Corzine Proves Problematic
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 isnt a member, DealBooks 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. Corzines lack of membership wasnt the only stumbling block. The groups chairman said in a statement that the board does not wish to take any action that could interfere with ongoing investigations concerning Mr. Corzines 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 ...