By Aruna Viswanatha
WASHINGTON, Nov 12 (Reuters) - A U.S. House of
Representatives panel on Thursday will release a long-awaited
report that will dissect the collapse of failed commodities
brokerage MF Global, the committee said on Monday.
The House Financial Services Committee said its Subcommittee
on Oversight and Investigations will post the report online at
9:30 a.m. Thursday.
MF Global, which was led by former New Jersey governor and
U.S. Senate Democrat Jon Corzine, filed for bankruptcy more than
one year ago and left an estimated $1.6 billion in customer
funds missing.
Since then, regulators, prosecutors and lawmakers have
investigated the missing funds and the firm's downfall, which
came as investors fled after revelations the firm made heavy
bets on European sovereign debt and after ensuing credit
downgrades.
A trustee liquidating the company's broker-dealer unit
issued a blistering 275-page report in June that described how
Corzine failed to address the company's growing liquidity needs
as he tried to build the commodities broker into a global
investment powerhouse.
Representative Randy Neugebauer, a Texas Republican who
chairs the oversight subcommittee, has said the report will
focus on the regulatory and compliance failures that led to MF
Global's collapse.
His subcommittee, as well as other panels in the U.S. House
and Senate, have held hearings on MF Global's collapse at which
Corzine and other high-profile executives gave their account of
events.
Regulators and prosecutors are still investigating the
company and have called in former executives for additional
interviews in the past two months.
So far, no charges have been filed against any individuals
involved.
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