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And last week, the trading commission voted unanimously to propose new customer protections aimed at closing loopholes.
The lawsuit, filed in United States District Court in Manhattan, provides the most complete account to date of MF Global's collapse and its violation of customer protections.
"It's absolutely unacceptable that E.on failed to provide these vital customer protections yet again, and this persistent failure is the reason for the high penalty," said Sarah Harrison, Ofgem's senior partner in charge of enforcement.
The Commodity Futures Trading Commission voted unanimously to propose new customer protections aimed at closing loopholes, bolstering internal controls and forcing firms to provide more disclosures to their clients.
The result is that consumer and public-interest groups — many of whom agree with the phone giants that the transition is inevitable — fear that significant customer protections will be lost.
"As we move forward, the committee will further examine customer protections in the commodities markets to see where reforms are needed so participants are assured their money is safe," said Senator Debbie Stabenow, Democrat of Michigan and chairwoman of the committee.
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An important and related topic in customer protection.
"It is critical to enhance customer protection," Gary Gensler, the agency's chairman, said on Tuesday.
"Segregation of customer funds is the core foundation of customer protection in the commodity futures and swaps markets".
"I do not accept this piecemeal approach to customer protection as a step in the right direction".
Groups like Consumers Union and the Consumer Federation of America have come out strongly against the law's lack of customer protection.
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