A plan to ban Jon Corzine, the former chief executive of MF Global, from the futures industry for life for failing to protect the failed brokerage's customers faces an uphill battle at a key industry regulator, Reuters reported yesterday. Two newly elected members of the National Futures Association (NFA) board have proposed barring Corzine, the former New Jersey governor who led the broker when it failed in October 2011. The board is set to discuss the plan at a quarterly meeting today. Other NFA officials are hesitant to back the motion out of fear it may interfere with a probe by another regulator, the U.S. Commodity Futures Trading Commission. Even without a lifetime ban, the NFA probably would try to prevent Corzine from doing business in the industry "in light of everything that is still to be sorted out," said Scott Cordes, an NFA board member.
