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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