- VP - Internal Audit Manager - Investment Banking
- Asset Management Internal Auditor - VP
- Audit Director- Legal and Regulatory Risk
- Reports With Impact
- The Risk Management Function–Essential Dimensions
- Exchange Traded Funds – Managing The Key Risks
- Managing The Internal Audit Project
- Credit Derivatives - Managing The Key Risk
- Subscribe to or read the following newsletters:
- Stop Press
- Recruitment Market View
- Home >
- Newsletters >
- Archive
Tuesday, 07 February 2012
MF Global and Client Funds
The trustee dealing with the liquidation of MF Global has published a report looking at the use of segregated funds.
It notes that the deficit in client money first occurred on October 26th with a $ 300 million hole. The money was used to meet margin calls and stem the tide of client withdrawals.
By October 31st when the company went bust the unaccounted deficit rose to $ 1.2 billion.
The trustee is now seeking to trace who is holding the funds with a view to pursuing financial institutions that may have been inadvertently paid using client funds.
Major Clients Include
