House Panel Votes to Subpoena MF Global Executive

(AP) House panel votes to subpoena MF Global executive
WASHINGTON
A congressional panel has voted to subpoena an MF Global executive to testify about what took place at the brokerage firm before it collapsed last fall.

The House Financial Services oversight subcommittee voted Wednesday to subpoena Edith O’Brien, who was an assistant treasurer at the firm. O’Brien declined to appear voluntarily at a hearing scheduled for next week. She worked in the office charged with ensuring customer accounts were properly handled, the subcommittee says.

MF Global filed for bankruptcy protection Oct. 31. About $1.6 billion of customers’ money hasn’t been recovered. Former Sen. Jon Corzine led the firm until last fall.

Also scheduled to testify at the hearing are MF Global Chief Financial Officer Henri Steenkamp, General Counsel Laurie Ferber, and Christine Serwinski, chief financial officer for North America.