Daily News: June 28, 2013

CFTC Seeks Trading Ban for Corzine

Bloomberg reported that the lawsuit brought against Jon Corzine could make him the first former Goldman Sachs leader to be banned from trading. The article noted that the Commodity Futures Trading Commission is seeking to punish former New Jersey senator and governor for his failure to supervise employees at MF Global Holdings as they transferred client funds to try to bolster the company prior to its October 2011 bankruptcy.

According to Bloomberg, if the CFTC is successful, Corzine will “face a very serious challenge if he ever wants to be involved in the money-management business again,” quoting Gregory Bruch, a partner at Bruch Hanna.

For the entire Bloomberg story, click here.

To read a related Bloomberg story, click here.

Previously on abfjournal: MF Global Trustee Steps Down in Bankruptcy Exit, June 6, 2013