MF Global -Global Instruments and Auditor failures
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Analyze how complex global instruments contributed to the fraud and the failure of it to be detected by regulators and auditors of MF Global.
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Solution Summary
MF GLobal is analyzed concerning how complex global instruments contributed to the fraud and the failure of it to be detected by regulators and auditors.
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As it is commonly known MF Global was one of the main international financial brokers of complex items such as contracts, options and derivatives and with these complex items, even dealt in spreads and with these foreign exchanges. They also dealt with futures and options as well as over-the-counter products such as contracts for difference (CTFC website). However it also dealt with US treasuries. While fines hit the company hard it also borrowed from customers' accounts without permission in complex investments. It ...
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