Bloomberg News

CFTC’s Gensler Confirms Recusal From Investigation of Mf Global

November 09, 2011

Nov. 7 (Bloomberg) -- Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said he recused himself from the agency’s investigation of MF Global Holdings Ltd. because he didn’t want his ties to Jon S. Corzine, the failed broker’s former chairman, to be a “distraction.”

“I chose to not participate in these potential or possible enforcement matters,” Gensler said today at a Securities Industry and Financial Markets Association conference in New York. “I didn’t want my participation to in any way be a distraction.”

Corzine, who stepped down as MF Global’s chairman and CEO on Nov. 4, worked with Gensler at Goldman Sachs Group Inc . and during his term in the U.S. Senate, where Gensler served as an aide.

To contact the reporter on this story: Silla Brush in Washington at sbrush@bloomberg.net

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


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