Sunday, March 4, 2012
CME Subpoenaed By Federal Grand Jury, CFTC in Probes of MF Global Collapse
CME Group Inc. (CME), the world’s largest futures exchange, said it received a subpoena from a federal grand jury investigating the October collapse of MF Global Holdings Ltd.
CME Group, which had auditing authority over the failed futures broker, has been asked to produce information and witnesses in connection with the investigation by a grand jury in the Northern District of Illinois, the Chicago-based company said in a regulatory filing today. The company also received a subpoena from the U.S. Commodity Futures Trading Commission and a document request from the Securities Investor Protection Corp. trustee handling MF Global’s liquidation, it said.
The CFTC is reviewing CME Group’s audit of MF Global before the broker’s Oct. 31 bankruptcy, when as much as $1.6 billion in client funds went missing, a person familiar with the matter said last month. The CFTC, Securities and Exchange Commission, Justice Department and bankruptcy trustees overseeing MF Global’s liquidation are investigating the possible misuse of client funds.
“We believe that we carried out our duties and responsibilities in accordance with these standards and procedures,” CME said in the filing.
Posted by The Doc at 2:34 PM