MF Global Trustee’s Process for Reviewing IB Security Deposit Status to Gear Up

The MF Global trustee will soon ramp up a process for resolving the status of IB security deposits. Many IBs had such security deposits held in MF Global commodity accounts at MF Global, and the SIPA trustee sent determination letters in mid-June 2012 denying the customer claim status of those deposits. A large number of those IBs then filed objections to those denials prior to the 30 day deadline for doing so. The trustee now has a four month window from the date of each objection filing, from mid-July to mid-November, to work to resolve each claimant’s objection before each…

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