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MBF Clearing says acted in customers' best interest
NEW YORK, March 13 |
NEW YORK, March 13 (Reuters) - MBF Clearing Corp said on Tuesday it had acted in the best interest of its customers and placed customer funds in a JP Morgan government money market account two days after Lehman Brothers filed for bankruptcy in 2008.
MBF made the statement in response to a U.S. Commodity Futures Trading Commission lawsuit against the firm alleging it failed to segregate customer funds properly.
The firm also said that after the collapse of MF Global in October, MBF took on losses incurred by its customers and made them whole.
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