CFTC Settles For Small But Personal Fine In Corzine Deal

Law360, New York (January 6, 2017, 11:02 PM EST) -- Former MF Global CEO Jon Corzine seemed to strike an attractive bargain with the U.S. Commodity Futures Trading Commission when he agreed to pay the low-low price of $5 million over his role in the firm’s billion-dollar meltdown, but experts note the agency extracted more personal punishments on its way to wrapping up the five-year case.

In consent agreements filed Thursday in New York federal court, Corzine and former MF Global Assistant Treasurer Edith O’Brien agreed to pay civil penalties of $5 million and $500,000, respectively, without admitting or denying the CFTC’s allegations they failed to properly supervise MF Global as...

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