MF Global Earmarks $10M To Deal With CFTC Probes

Law360, New York (June 16, 2008, 12:00 AM EDT) -- MF Global Ltd. has accrued $10 million for potential civil penalties stemming from three U.S. Commodity Futures Trading Commission probes into energy and other futures trades, two of which had not been disclosed before the broker filed its annual report Friday.

The CFTC is investigating an MF Global trader's unauthorized wheat futures transactions in February 2008; two trades the brokerage firm made in 2004; and one trader's involvement with a BMO Financial Group energy trader who is accused of inaccurate bookkeeping.

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