The liquidator of broker-dealer MF Global Inc. has served an examination subpoena on the company’s parent, according to a court filing. Trustee James W. Giddens won a judge’s permission on Nov. 4 to subpoena directors and officers of the broker’s parent, MF Global Holdings Ltd. (MF), saying he needs to find out if fraud or misconduct led to its bankruptcy and what lawsuits he might bring. U.S. Bankruptcy Judge Martin Glenn denied a request by the parent to share the information gathered, saying Giddens must probe without interference management’s possible involvement in an alleged shortfall in its collateral for segregated accounts. Commodity customers of the brokerage that used to be run by former Goldman Sachs Group Inc. co-chief executive Jon Corzine have a shortfall of about $593 million, according to a person with knowledge of regulatory probes into the failure of the New York-based firm. The “around the clock” probe of MF Global’s cash movements is being conducted by the U.S. Justice Department, the CFTC, the SEC and the trustee’s staff in cooperation with the Securities Investor Protection Corp., Giddens said on his website last week. CFTC View The probe may uncover “patently illegal” actions, Bart Chilton, a CFTC commissioner, said at the time. “It’s a distinct possibility, some would say probability, that somebody has done something with the money, and that it’s not going to be ‘all of a sudden discovered’ with an innocent explanation,” Chilton said in an e-mail statement last week. Kenneth Ziman, a lawyer for the parent company, didn’t immediately respond to an e-mail seeking comment. Giddens last week completed the transfer of customers’ commodity accounts to other firms, saying he must hold onto all but about $1.6 billion in collateral until he knows what claims will be filed against the bankrupt broker-dealer. CME Group Inc., which runs a futures exchange, said last week it would provide $250 million in financial guarantees and $50 million in assets to allow the trustee to distribute more collateral. The MF Global parent sought bankruptcy court protection after making bets on European sovereign debt and getting margin calls. The firm listed liabilities of $39.7 billion and assets of $41 billion in Chapter 11 papers.  [bloomberg 11/14/11]