Bloomberg News

MF Global Auditor PwC Subpoenaed for Client Fund Information

November 04, 2011

Nov. 3 (Bloomberg) -- U.S. regulators have subpoenaed MF Global Holdings Ltd.’s auditor, PricewaterhouseCoopers LLP, requesting information on the segregation of assets belonging to clients trading on U.S. commodity exchanges, according to a person briefed on the matter.

The Commodity Futures Trading Commission sent the subpoena seeking information about $633 million missing from customer accounts, said the person, who spoke on condition of anonymity because the matter isn’t public. The subpoena was received yesterday, the person said.

In the auditor’s most recent formal action on behalf of its client, it gave MF Global a clean audit opinion in its May 20 annual report. MF Global filed for the eighth largest U.S. bankruptcy on Oct. 31.

Chris Atkins, a spokesman for PricewaterhouseCoopers, declined to comment on the subpoena. Steve Adamske, a CFTC spokesman, declined to comment.

--With assistance from Silla Brush in Washington. Editor: Maura Reynolds, Lawrence Roberts.

To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net.

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net.


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