A house hearing on the MF Global bankruptcy has been set for December 15, and former CEO Jon Corzine has been called in to testify, Bloomberg reported.
The hearing will be conducted with the House Committee on Financial Services’s Oversight and Investigations subcommittee.
Bear in mind that Corzine is allowed to plead the fifth and refuse to testify on grounds that he could incriminate himself. Several federal authorities are investigating MF Global following their bankruptcy, and there could be criminal charges pending on the outcome of the how the $1.2 billion in customer segregated funds came to be missing.
According to Bloomberg, MF Global COO Bradley Abelow, representatives from the three ratings agencies (Moody’s, Fitch, Standard and Poor’s), and federal regulators have also been called on to appear.
Gary Gensler, chairman of the Commodity Futures Trading Commission; Robert Cook, director of trading and markets at the Securities and Exchange Commission; William C. Dudley, the president of the Federal Reserve Bank of New York
There have been talks of a congressional hearing on MF Global since last week, when Michigan Senator Debbie Stabenow requested one in a letter to the CFTC