CFTC Chairman, Gary Gensler, is being pressed by lawmakers on whether early signs of MF Global's collapse fell through the cracks. Rep. Randy Neugebauer, chair of the House Financial Services subcommittee on oversight and investigations, said in his letter to Gensler he was "concerned about the effectiveness" of regulators and self regulatory organizations that oversee MF Global. "The apparent loss of segregated client funds at MF Global is extremely troubling," said Neugebauer, who asked Gensler whether there were concerns expressed about MF Global at Financial Stability Oversight Council meetings this year. "Different information was known by multiple SROs that might have, if aggregated and shared, been used to identify the risk at MF Global earlier or might have mitigated the consequences of its collapse," Neugebauer said in a letter to Gensler dated Nov. 28. The shortfall of commodity customer funds at MF Global may be around $1.2 billion according to the trustee liquidating the company, though Reuters reported on Monday that regulators and a law enforcement official believe the total is being overestimated. Regulators are trying to determine what happened to the money and whether MF Global may have improperly mixed customer funds with its own -- a major violation of industry rules. The failed brokerage had a half dozen regulators including the CFTC, SEC, CME, and  policing various parts of the firm, but no one clear watchdog responsible for the whole company. Gensler has been invited to appear before Neugebauer and the subcommittee on Dec. 15 along with other regulators and Jon Corzine, who resigned as MF Global's chief executive, and Bradley Abelow, the firm's chief operating officer. A CFTC official could not be reached for comment.  [Reuters 11/29/11]