Friday, February 22, 2013

Corzine Slips out of noose

Jon Corzine’s comeuppance will have to wait.  The NY post reports that the National Futures Association, the industry’s self-regulatory body, shelved a proposal to ban the ex-chief of MF Global from the multi-billion futures trading industry after a nearly four-hour board meeting yesterday.

A vote in favor of the proposal would have prompted the NFA to set up an independent panel to weigh the lifetime ban and give Corzine a chance to defend himself.  Instead, the NFA’s board tabled the proposal, citing “ongoing investigations concerning Mr. Corzine’s activities at MF Global,” according to a statement from Chairman Christopher Hehmeyer….

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