Clarification: CFTC-MF Global story

AP News
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Posted: Nov 23, 2011 3:41 PM
Clarification: CFTC-MF Global story

In a Nov. 22 story, The Associated Press erroneously implied that a clearinghouse's request that regulators clarify how securities firms can mingle clients' money was linked to the collapse of broker MF Global. MF Global failed to separate clients' money from its own. By contrast, ICE Clear Credit has asked the Commodity Futures Trading Commission to clarify rules for mingling money between a client's own accounts. And ICE's request came before MF Global's actions came to light.