Jon Corzine will shutter the hedge fund he started after the collapse of MF Global Holdings, marking the end of his bid to rebound from one of the largest bankruptcies in U.S. history, Bloomberg News reported. JDC-JSC, Corzine’s New York-based money-management firm, terminated its registration with the Securities and Exchange Commission as of Sept. 22, according to the agency’s website. The firm’s lone investment vehicle, the JDC-JSC Opportunity Master Fund, had gross assets of about $510 million, including leverage, at the end of last year. A former co-chairman of Goldman Sachs Group Inc., Corzine also served as a U.S. senator and governor of New Jersey before taking the top job at MF Global in 2010. He hoped to turn the futures broker into a Wall Street powerhouse, only to see the firm buckle under a cash crunch tied to proprietary bets on European sovereign debt. MF Global was forced to file for bankruptcy in 2011. In July, three futures industry executives asked the Commodity Futures Trading Commission to review an exemption that allowed Corzine to continue trading a small amount of futures under a settlement with the agency. The executives claim that Corzine is no longer eligible for the exemption because of a 2020 rule change.
