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MF Global Ordered to Make Customers Whole Over Mishandled Funds

MF Global Holdings Ltd. was ordered to pay $1.2 billion in restitution and a $100 million fine over claims that a brokerage unit misused customer funds, the U.S. Commodity Futures Trading Commission said in a statement today.

The bankrupt firm is being ordered to pay the amount needed to ensure customers of MF Global Inc. are repaid in full, the CFTC said in a statement on the order issued yesterday by Federal Judge Victor Marrero of New York’s Southern District.