Blacklash from MF Global mess: The CFTC has ordered an audit of every American futures trading firm to verify that customer money is protected. The CFTC is already tasked with searching for the missing money at MF Global, and will now audit many of the nation’s largest futures commission merchants. Exchanges like the CME Group will examine smaller firms to ensure they are keeping customer money separate from company money. The regulator’s decision to audit every futures firm is aimed at restoring calm, and perhaps faith, to a jittery industry. MF Global’s downfall, and the revelation of missing customer money, has raised questions about the safety of the futures business. The regulator also announced that it had formally opened an investigation into MF Global, a largely symbolic move that indicates the seriousness of the case. The agency has already issued subpoenas to MF Global and its auditors, PricewaterhouseCoopers, but the commission had to vote before announcing a full-scale investigation. Gary Gensler, the commission’s chairman, abstained from voting after recusing himself from the investigation. He stepped back from the case amid questions about his past acquaintance with Corzine. While the two were not close in recent years, Mr. Gensler worked for  Corzine at Goldman Sachs in the 1990s. Gensler had also supported Corzine’s campaign as a Democratic candidate for governor of New Jersey, with a $10,000 check. With Gensler out, a Republican member of the agency, Jill  Sommers, will serve as the senior commissioner on the case. The commission, other federal regulators and the FBI are continuing to search for the $600mn missing MF Global. Corzine and MF Global still have not been accused of any wrongdoing. [Dealbook, 11/10/11]