Congress calls on Corzine to testify on MF Global

AP News
Posted: Nov 22, 2011 5:57 PM
Congress calls on Corzine to testify on MF Global

Jon Corzine has been called to testify at a Congressional hearing over the collapse of financial firm MF Global.

Corzine, the former New Jersey governor and U.S. senator, resigned as the firm's chairman and CEO earlier this month.

The House Oversight and Investigations Subcommittee called on Corzine to testify at a hearing to be held on Dec. 15. The hearing will focus on the decisions and events that led to the collapse of the brokerage firm, the effectiveness of its regulators, and the impact of its bankruptcy on customers.

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MF Global collapsed after making a disastrous bet on European debt. It filed for bankruptcy protection on Oct. 31.

MF Global is being investigated by regulators and the FBI over whether it violated securities and criminal laws.