U.S. Senator Jerry Moran (R-Kan.), a member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued the following statement today on the occasion of the one year anniversary of the collapse of MF Global. Segregated customer accounts are protected by law and the events surrounding MF Global cast doubts on the strength of our market protections as well as the ability of the designated federal regulators to prevent violations of the trust of account holders.
"One year ago, farmers and ranchers across Kansas and the United States awoke to the stark realization that the integrity of our markets can be easily compromised by a bad player like MF Global," Sen. Moran said. "The disregard for the rules established to protect customer accounts on the part of MF Global as well as the failure of federal oversight to enforce these rules will continue to erode confidence in our markets until the accounts are made whole and the perpetrators are held accountable."