Deals
Corzine’s MF Global Suspended From Trading With New York Fed
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MF Global Holdings Ltd., the futures broker run by Jon Corzine, was suspended from conducting new business with the New York Federal Reserve today after posting a record loss.
The firm’s board met through the weekend in New York to consider options including a sale to avert failure, according to a person with direct knowledge of the situation. It was stopped from doing new business with the New York Fed until it shows it’s able to fulfill its responsibilities as a primary dealer, according to a statement on the regulator’s website. Trading in MF Global’s stock was also halted.