It's about knowing your market, customer, assets and partnerships.
The weak inflow of new customer assets in the quarter disturbed him, Mr. Grübel said.
The Cantor Fitzgerald division manages about $3.4 billion in customer assets.
"The job of each of these regulators was to ensure customer assets were protected," Mr. Shelby said.
Most customer assets are held at the biggest firms and they have scores of people involved in this process".
Total customer assets at Hilliard Lyons are more than $22 billion, the company said.
The private banking business also reported a net inflow of 1.5 billion Swiss francs ($1.1 billion) in customer assets.
The discount brokerage firm that Mr. Schwab, 66, founded 30 years ago holds nearly $1 trillion in customer assets.
The plan is to unilaterally demand that financial institutions automatically surrender information on customer assets to overseas tax authorities.
"The job of each of these regulators was to ensure customer assets were protected," said Richard C. Shelby of Alabama, the committee's top Republican.
It's apparent from Mr. Giddens's report that as MF Global's financial woes deepened last summer and fall, protecting customer assets was among the least of Mr. Corzine's priorities.
