February 21, 2013 / 10:56 PM / 5 years ago

Corzine may be blacklisted from futures industry by regulator

CHICAGO, Feb 21 (Reuters) - A key U.S futures-market regulator said Thursday it will block Jon Corzine, the former chief executive of failed broker MF Global, from the futures industry unless he clears an investigation into his fitness as a participant.

The National Futures Association, which oversees brokers and asset managers, is “aware of publicly available information that raises issues” about Corzine’s fitness for membership, NFA Chairman Chris Hehmeyer said in a statement.

Corzine will not be granted membership in the future “unless NFA, after completing its fitness investigation, resolves those issues to its satisfaction,” Hehmeyer said.

Corzine’s membership has lapsed.

MF Global collapsed in October 2011 after dipping into customer accounts in violation of industry rules, leaving a $1.6 billion hole in its customers’ accounts and shaking confidence in the futures industry.

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