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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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SIPC Appoints Lehman Trustee to Liquidate MF Global Brokerage
November 1, 2011
MF Global has reached an early milestone in the winding-down of its operations: SIPC has appointed a trustee to take over and liquidate the firm's brokerage. A federal court in Manhattan appointed James Giddens, who is also the trustee for Lehman Brothers.
The Securities Investor Protection Corporation received permission from the federal court to unwind the brokerage, under authority from the Securities Investor Protection Act. One "fly in the ointment" is the possible disappearance of several hundreds of millions, which regulators are not investigating.
MF Global filed for bankruptcy protection in New York on Monday morning, which in turn sent global financial exchanges into a tailspin - in part related to uncertainties surrounding the collapsed broker-dealer. The brokerage wasn’t part of that filing. [WS Journal, 10/31/11] Related Stories: Archive
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