WASHINGTON (Reuters) - A federal judge in New York has ordered MF Global Inc to return more than $1 billion to harmed customers and pay an additional $100 million penalty as part of a civil settlement with U.S. derivatives regulators.
The November 8 court order by U.S. District Judge Victor Marrero for the Southern District of New York was announced by the Commodity Futures Trading Commission on Monday in a press release.
The approval by the judge marks the end of the CFTC's litigation initiated in June against MF Global Inc over the brokerage's October 2011 collapse and loss of more than $1 billion in customer money.
The CFTC's civil case against defendants MF Global Holdings Ltd, former Chief Executive Officer Jon Corzine and former Assistant Treasurer Edith O'Brien, however, is still ongoing. (Reporting by Sarah N. Lynch; Editing by Lisa Von Ahn)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app