On November 15th, the House subcommittee on financial oversight released its conclusions concerning the collapse of MF Global. The report lays blame for the financial firm's demise at the feet of its former CEO, Jon Corzine. It also calls for new legislation that imposes civil liability on the officers and directors that sign a futures commission merchant's financial statements or authorize specific transfers from customer segregated accounts for regulatory shortfalls of segregated customer funds. In addition, the subcommittee recommended that the SEC and CFTC streamline their operations or merge into a single regulatory body. That recommendation is based on the subcommittee's finding that the SEC and CFTC failed to share information, leaving each regulator with an incomplete understanding of MF Global's condition. Subcommittee Press Release.