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Loophole at MF Global Is Headache for Regulators

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Most of the senior executives at MF Global Holdings Ltd. were not registered with commodities regulators, meaning the executives cannot be charged with supervision failures related to the firm's collapse, the Wall Street Journal reported today. Among top officials at MF Global, only former Chairman and Chief Executive Jon S. Corzine was registered with the Commodity Futures Trading Commission when the New York company filed for chapter 11 protection in October, regulatory records show. Those who were not registered include Henri Steenkamp, MF Global's finance chief, company treasurer Vinay Mahajan and Edith O'Brien, an assistant treasurer responsible for approving transfers and monitoring their impact on customer accounts.