Wednesday, December 14, 2011

"EXCLUSIVE-UPDATE 2-Regulators know where MF Global funds went"

From Reuters (Africa):
* Still determining legitimacy of transfers-CFTC official
* CFTC's Sommers: We see where the money went
* CFTC's Chilton says review is still work in progress
* No timetable for when review will be complete

(Adds comments from CFTC's Chilton, Senator Roberts)
By Christopher Doering
WASHINGTON, Dec 14 (Reuters) - U.S. regulators now have a more complete picture of money transfers in the final days of bankrupt brokerage MF Global, but must sort out which transactions were legitimate before more money can be released to customers, a top official told Reuters on Wednesday.

Jill Sommers, who is heading the Commodity Futures Trading Commission's review of MF Global, said regulators "are far enough along the trail" that they know where the money went.

"Now it's just finding out which ones of those transactions are legitimate and which ones of them are illegitimate," Sommers said....MUCH MORE