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Cmte Financial Services (R)
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Oversight and Investigations Subcommittee Prepares for Hearing on MF Global

Washington, Dec 2 -

The Financial Services Subcommittee on Oversight and Investigations is examining hundreds of pages of documents and requesting other materials surrounding the bankruptcy of MF Global as it prepares for its hearing later this month.

Subcommittee Chairman Randy Neugebauer has requested information from regulators who were responsible for overseeing MF Global, and he continues working with attorneys for the brokerage firm’s former chairman and CEO Jon Corzine about having Corzine appear before the Subcommittee to answer questions.  The Subcommittee has scheduled a hearing on the collapse of MF Global for December 15.

“Jon Corzine is only one piece of the puzzle that the Subcommittee is looking at,” said Neugebauer.  “We began to delve into every aspect of MF Global’s collapse weeks ago, and the Subcommittee is sifting through documents, working to obtain documents, and ensuring our investigation is done in a thorough – and not a hurried – fashion.”

The Subcommittee is focusing its investigation on decisions and events leading up to the collapse of MF Global, the effectiveness of regulators in overseeing the firm’s activities, and the impact MF Global’s bankruptcy will have on its customers.

Among those the Subcommittee is seeking answers from are Gary Gensler, the Chairman of the Commodity Futures Trading Commission, and Mary Schapiro, the Chairman of the Securities and Exchange Commission.