Monday, January 9, 2012

CFTC to Investigate CME Group Over MF Global

CME Group Looking
Out for Investors
Rather than pretending to investigate and point fingers, perhaps the CFTC should simply force JP Morgan to return the stolen (rehypothecated) client assets.  Yet this is not even considered as a possibility.  Instead the CFTC continues to do all it can to pretend to appear to be "investigating".  Rather than pretending to investigate, maybe the CFTC shouldn't have allowed the fox (CME Group) to regulate the hen house (futures brokerages like MF Global) in the first place!!!

The U.S. futures regulator has been investigating whether the CME Group did enough to safeguard customer money before the collapse of MF Global last year, sources said on Friday.
Sources familiar with the investigation into MF Global said the Commodity Futures Trading Commission is looking into the CME's supervision of customer money as a standard part of its review, which includes everyone involved from counterparties to affiliated creditors.
A spokeswoman for CME Group, the biggest operator of U.S. futures exchanges and MF Global's front-line regulator, said the company welcomed any probe.
"We haven't been notified that they are investigating us, but we would expect and frankly welcome it -- it's part of their job that they are looking at the things we did," CME spokeswoman Anita Liskey said. "We are confident that they will agree that we did our job to the best of our abilities."
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