US regulators have charged the former chief executive of brokerage firm MF Global with failing to properly manage the company, which allegedly misused customer funds before its collapse. The Commodity Futures Trading Commission (CFTC) said Jon Corzine "did not act in good faith" and did not diligently supervise. About $1.6bn (£1bn) of client money went missing before the firm filed for bankruptcy protection in October 2011. Mr Corzine has denied the allegations. The CFTC also settled charges with MF Global itself, with the firm agreeing to pay a $100m penalty and all the funds it still owed to commodity customers. The regulator also charged MF Global's former assistant treasurer, Edith O'Brien.

RepHuizenga: VIDEO: We need to have an independent counsel to investigate #MFGlobal http://t.co/cuoiscjT #tcot (2/2) read more

#Farmer shares his #MFGlobal experience.Marty Klinker, a farmer from Fairfield, Mont., says he never chose to give MF Global access to his accounts. They gained access on their own.

#Corzine of #MFGlobal testifies before Agricultural Committee.