CFTC starts MF Global probe

THE US futures regulator yesterday said it has launched a formal investigation into bankrupt MF Global, increasing pressure on the brokerage as the search for roughly $600m (£377.1m) in missing funds continues.

The announcement by the Commodity Futures Trading Commission is rare as the agency typically does not usually publicly announce probes it is launching. The CFTC also said that separate from the MF Global probe, it will review clearing futures commission merchants to ensure customers funds are properly segregated from firm money.