Still, Jon Corzine, the former chairman and chief executive officer of failed brokerage MF Global Holdings Ltd. (MFGLQ), and Gary Gensler, chairman of the Commodity Futures Trading Commission, didn’t have a close relationship, an internal analysis by CFTC lawyers found. They didn’t attend each other’s weddings, Corzine didn’t go to the bat mitzvahs of Gensler’s daughters and they haven’t socialized together in 14 years.
'From a legal and ethical perspective, Chairman Gensler’s participation in commission matters involving MFGI would not be improper', Dan M. Berkovitz, general counsel and ethics officer, and John P. Dolan, counsel and alternate ethics official, concluded in the memo.
The review, a copy of which was obtained through a public records request, was conducted while Gensler and the CFTC were under criticism from lawmakers for their oversight of MF Global, which sought bankruptcy protection Oct. 31. The failure, along with the recent collapse of Peregrine Financial Group Inc., undermined confidence in the futures industry and has spurred calls for new regulations.
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Corzine Wasn’t Too Close with CFTC Chief, Review Finds
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