Sentence examples for futures firm from inspiring English sources
The regulator's decision to audit every futures firm is aimed at restoring calm to an anxious industry, and perhaps some faith.
The New York Court of Appeals, the state's highest court, explained in a 2010 decision involving the failed futures firm Refco that this "principle has been wrought in the inmost texture of our common law for at least two centuries".
Louis J. Freeh, the bankruptcy trustee for the failed futures firm MF Global, filed a lawsuit aimed at pinning its collapse squarely on Jon S. Corzine, the former chief executive, and two of his top lieutenants.
The group on Thursday vowed that he "will not be granted membership unless N.F.A., after completing its fitness investigation, resolves" concerns about his ability to run a futures firm.
In Commodity Futures Trading Commission v. Weintraub, which involved a bankrupt futures firm, the Supreme Court held that a bankruptcy trustee has the power to waive the company's attorney-client privilege to permit an examination of its former general counsel.
"To a certain extent, I think the industry was hoping there was some smoking gun, so it could be seen as unique or as an aberration," said Gary DeWaal, the global general counsel of the futures firm NewEdge.
Currently, most futures firms must share their reports with regulators only monthly.
Notwithstanding the government's scrutiny of its actions, CME agreed to review 33 futures firms.
For years, futures firms reveled in their reputation as trusted stewards of customer money.
The lawyer dealing with the letters was Dennis Klejna, a deputy counsel who was no stranger to crisis at futures firms.
Ms. O'Brien is considered an expert of sorts on the protection of customer money at futures firms.
