MF Global & SIPC

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MF Global & SIPC

I have Futures Magazine on my Facebook. I have been getting updates fomr them all day. Here is ther latest one:

Futures Magazine
Duffy: Duffy: We were told that the customer funds were transferred from customer funds to the broker-dealer. If those weren't excess funds, then it was illegal.

Now, if I am not mistaken, a "Broker-Dealer" is the Securities version of an IB and FCM, only combined, right?

So, if the funds were taken from Broker-Dealer accounts, then that, means that they are covered under SIPC, right?

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MF Global & SIPC

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