New Laws Possible In Wake of MF Global’s Demise – Ben Protess (DealBook/NYT)
January 18, 2012

“Lawmakers are considering new policies aimed at preventing a repeat of the MF Global debacle, in which the futures brokerage firm misused an estimated $1.2 billion in customer money as it collapsed. The Senate Agriculture Committee’s decision to explore potential regulatory changes follows pleas from farmers, cattle ranchers and other futures industry customers who seek stronger protections for their money. As an initial step, the committee’s chairwoman, Senator Debbie Stabenow, sent roughly 20 letters on Wednesday to some of the industry’s biggest players, seeking suggestions for new policies.  … She sent letters to consumer advocacy groups, including Americans for Financial Reform and the Commodity Customer Coalition, a group of MF Global clients hurt by the firm’s collapse. The committee also sought input from the Futures Industry Association, an influential trade group, and the CME Group, the for-profit exchange that polices brokerage firms.” Click here for more.