Please ensure Javascript is enabled for purposes of website accessibility
January 28, 2023

KPMG to MF Global UK Clients: Those Yankees Are Costing You 16 Cents on the Dollar

This is progress, okay? They're doing the best they can.

[MF Global] [a]dministrators in New York and London are involved in a dispute over about $742 million of customer funds used as margin collateral for American clients trading in Europe. The U.S. trustee of MF Global Inc. wants the money to come from the client money pool, which would hamper the return of funds to U.K. clients. KPMG said if it weren’t for the MF Global Inc. claim it would have been able to return 42 cents, rather than 26 cents, on the dollar to U.K. customers. 

Please don't ask them to apologize again.

MF Global U.K. Clients Getting Initial Payout [Bloomberg]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

LEGO businessman at a desk

KPMG Vice Chair Hopes All the Tech Layoffs Will Scare College Kids Into Accounting

KPMG Vice Chair Greg Engel has been having trouble sleeping lately. It isn’t climate change or social justice or the price of eggs keeping him up at night, like most accounting leaders he is consumed by the talent shortage. No really, that’s what he told CFO Dive. Not to worry, Engel has hope. Hope that […]

KPMG Manchester office and some clip art people

If Your Parents Were Poor, It Takes Longer to Climb the Ladder at KPMG (No Really)

Big 4 firms spit out all kinds of research — very little of which rates a mention beyond maybe somewhere in a linkwrap if that — but this research from KPMG we’re about to share with you (which we did bury in a linkwrap some weeks back) deserves a callout of its own. Not because […]