This week's report on MF Global from the Republicans on the House Financial Services Committee blamed Jon Corzine for the brokerage firm's failure and also found fault with MF Global's regulators, the Securities and Exchange Commission and the Commodity Futures Trading Commission. The report recommended that Congress consider merging the two regulatory agencies.
That recommendation has alarmed some legislators who represent farm states and don't want the SEC overseeing the markets in agricultural commodities, Politico reports. Sen. Pat Roberts of Kansas, the top Republican on the Agriculture Committee, says he doesn't think a merger of the two would have made any difference at MF Global. On the other hand, Rep. Spencer Bachus, R-Ala., the head of the House Financial Services Committee, says a merger is needed.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
