Forbes: Regulators and Trustees Suppressing Details on MF Global

Economic Policy Journal, published a post this morning that raises serious questions about the Securities and Exchange Commission's program of regulation for broker/dealers and, in particular, the agency's role in keeping the truth from the public about what went wrong at MF Global. We're also being kept from the truth about other broker/dealers who may be putting risky trades on their books or whose controls over segregation of customer assets may be weak or non-existent.

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"It seems that sloppy scanning and filing standards combined with preferential treatment for certain large brokers has substantially reduced the value of this part of the SEC's public filing system. Since this is often the sole repository for disclosures about private companies, including broker dealers that do not have public holding companies, investors are being deprived of timely and critical information.