SINGAPORE, Nov 12 ― The Singapore unit of bankrupt US brokerage MF Global said late yesterday that nearly half the US$309 million (RM973.35 million) held in its segregated client accounts are with financial institutions outside the city-state, indicating the difficulty faced by liquidators in retrieving customers’ money.
Under Singapore law, customers’ monies and assets cannot be co-mingled with the firm’s assets, giving clients of financial institutions than run into difficulty some measure of protection. Full story
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Nearly half of MF Global S'pore client monies held abroad - Reuters
