CFTC Subpoenas Harris Bank Over MF Global, Sources Say

Tuesday, 15 Nov 2011 12:30 AM

 

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The U.S. Commodity Futures Trading Commission has served a subpoena on Chicago-based Harris Bank, seeking information about customer accounts at MF Global, two people familiar with the situation told Reuters.

The subpoena is another sign that U.S. regulators are stepping up their investigation into $600 million in missing money from the futures brokerage, which filed for bankruptcy protection on Oct. 31.

Harris Bank, a division of Bank of Montreal, was the main custodian for customer money deposited with MF Global and kept in segregated accounts. The subpoena was served within the past week, according to the people familiar, who were not authorized to discuss the subpoena publicly.

A Harris Bank spokesman had no comment on the investigation. The CFTC also declined to comment.

The CFTC has been joined in the investigation by the Federal Bureau of Investigation and the U.S. Attorney's Office in Manhattan, which has opened a grand jury investigation into the collapse of MF Global and the missing money.

© 2014 Thomson/Reuters. All rights reserved.

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