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MF Global's Corzine due to appear at December 8 hearing
December 6, 2011 / 7:52 PM / 6 years ago

MF Global's Corzine due to appear at December 8 hearing

(Reuters) - Former MF Global chief Jon Corzine, who was been absent from public view since the firm’s collapse in late October, is expected to appear before a congressional hearing on Thursday, according to a witness list released by the committee.

The House Agriculture Committee’s list includes Corzine, along with Jill Sommers, who is heading up the Commodity Futures Trading Commission’s review of MF Global, and officials from the CME Group and Financial Industry Regulatory Authority, who were also regulators for the firm.

Congress is holding hearings to examine the firm’s bankruptcy and the search for up to $1.2 billion in missing customer money.

This would be the first hearing to feature Corzine, whom the committee subpoenaed to testify.

A Senate Agriculture Committee on Tuesday also voted to subpoena Corzine to testify before its December 13 hearing.

It is unclear if Corzine will invoke his right to avoid self-incrimination under the Fifth Amendment of the U.S. Constitution.

Corzine resigned as CEO of MF Global in early November. Steven Goldberg, a spokesman for Corzine, declined comment.

Neither MF Global nor its executives have been charged with wrongdoing.

Futures brokerage MF Global filed for bankruptcy on October 31 after it was forced to reveal that it had made a $6.3 billion bet on European sovereign debt, rattling investors and customers.

Investigators are searching for up to $1.2 billion in missing customer money, and are probing whether MF Global raided customer funds for firm use.

Regulators have been criticized for neither closely policing the firm nor catching the potential misuse of customer money.

Also due to appear at Thursday’s hearing are James Kobak, the lead counsel for the trustee liquidating MF Global; Terrence Duffy, executive chairman of the CME Group; William J. Brodsky, chairman and CEO of the Chicago Board Options Exchange; Dan Roth, president and CEO of the National Futures Association; and Stephen Luparello, vice chairman with FINRA.

Reporting by Christopher Doering, additional reporting by Alexandra Alper. Editing by Robert MacMillan

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