Point-by-Point Case Comparison Of MF Global, Sentinel and PFG Best
Here’s a breakdown of some of what’s the same and what’s different about these three cases.
Posts
Nothing SOx-y About SEC’s JP Morgan “Whale” Settlement
/11 Comments/in Food for Thought, Fraud, Latest, Pure ContentIf the JP Morgan “Whale” settlement was a true Sarbanes-Oxley success story, we’d see some bank executives going to jail. For a change.
Broker-Dealer Audits Still Badly Broken
/8 Comments/in Latest, Pure Content, The Case Against The AuditorsThe PCAOB’s second “progress” report on broker-dealer audits found deficiencies in all of the audit firms inspected and in 57 of the 60 audits inspected. That’s not much progress.
McKenna Speaks to Market Technicians Association Chicago
/1 Comment/in Pure Content, Where I've BeenOn February 19, 2013, I spoke to the Chicago Chapter of the Market Technicians Association. The topic was, “Risk 2013: Protecting Your Trading Accounts From Fraud”.
On Anniversary of MF Global Bankruptcy, Something Still Missing
/11 Comments/in Fraud, MF Global, You Can Quote Me On ThatSomething is still missing today, the one year anniversary of the bankruptcy of MF Global.
What’s still missing from this sordid affair is an accounting of the whereabouts of the financial auditor, PricewaterhouseCoopers.
Four Years After Madoff, Audits and Auditors of Broker-Dealers Still Lousy
/8 Comments/in Audit Firm Management, Audit Quality, Latest, The Case Against The AuditorsHow much lower does investor confidence have to go? How many more billions do customers have to lose before someone steps up?
MF Global Updates: Forbes, American Banker
/8 Comments/in Food for Thought, Fraud, Pure ContentAmazing but true, the MF Global story is still red hot, reason being $1.2 billion in customer funds is still missing. Here’s a recap of recent columns at Forbes and American Banker that have tracked new developments.
The Plot Thickens: The House Financial Services Committee MF Global Hearing
/in Food for ThoughtView the story “The Plot Thickens: The House Financial Services Committee MF Global Hearing ” on Storify]
Rogue Traders, Rogue Firms: The CME, PwC, MF Global and the Legacy of Refco
/9 Comments/in Food for Thought, PricewaterhouseCoopers, Pure Content, Regulators, Laws, Standards, RegulationsLet’s not forget PricewaterhouseCoopers, MF Global’s auditors.
When it comes to hands-on access to private information, the auditor has more than any other regulator mentioned. And they are supposed to be experts in that client’s business and in the accounting and auditing standards for that industry. PwC also audits JP Morgan, Bank of America Merrill Lynch, and Goldman Sachs. They are all large players in the futures brokerage industry.
MF Global: Where Is The Missing Money?
/10 Comments/in Fraud, Latest, MF Global, PricewaterhouseCoopers, Regulators, Laws, Standards, Regulations, The Case Against The AuditorsAlmost everyone wondering where the missing MF Global customer assets have gone thinks they will show up eventually. I believe the assets are long gone.
Limit Up! A Review of “The Futures” by Emily Lambert w/Book TV Link
/5 Comments/in Pure Content, You Can Quote Me On ThatI’ve added the link for the Book TV taping at the bottom of the post.