MF Global Auditor PricewaterhouseCoopers Subpoenaed for Client Fund Data
U.S. regulators have subpoenaed MF Global Holdings Ltd.’s auditor, PricewaterhouseCoopers LLP, requesting information on the segregation of assets belonging to clients trading on U.S. commodity exchanges, according to a person briefed on the matter.
The Commodity Futures Trading Commission sent the subpoena seeking information about $633 million missing from customer accounts, said the person, who spoke on condition of anonymity because the matter isn’t public. The subpoena was received yesterday, the person said.
In the auditor’s most recent formal action on behalf of its client, it gave MF Global a clean audit opinion in its May 20 annual report. MF Global filed for the eighth largest U.S. bankruptcy on Oct. 31.
Chris Atkins, a spokesman for PricewaterhouseCoopers, declined to comment on the subpoena. Steve Adamske, a CFTC spokesman, declined to comment.
To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net.
To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net.
Nov. 3 (Bloomberg) -- Fred Tecce, a lawyer at McShea Tecce and former assistant U.S. attorney, talks about the outlook for the U.S. Securities and Exchange Commission to review trades in MF Global Holdings Ltd. convertible bonds to determine whether some investors sold the debt based on confidential information before the firm's demise. Tecce speaks with Lisa Murphy and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.