The US Commodity Futures Trading Commission’s years-long litigation against the former CEO of MF Global Holdings Ltd. has concluded with a settlement. After the brokerage firm MF Global went bankrupt in a 2011 liquidity crisis, the CFTC sued CEO Jon Corzine for dipping into nearly $1 billion of segregated client funds in an effort to obtain badly needed liquidity. The settlement requires Corzine to pay a $5 million fine out of his own pocket, rather than from insurance. The CFTC had previously forced MF Global to pay over $1.2 billion in restitution to its customers, along with a penalty of $100 million, due to actions the company took under Corzine’s leadership. The Corzine settlement also imposes a lifetime ban on Corzine from CFTC markets, preventing him from personally trading clients’ money in the commodity futures industry. The ban on Corzine, also a former CEO of Goldman Sachs, is a significant measure against one of Wall Street’s top traders and leaders.