under current rules, scms are not required to calculate the seg regrags requirements for foreign trading in the same way as they do for domestic trading. reliance on this alternative calculation resulted in a substantial difference in funds segregated. the alternative calculation would have required a greater segregation. the calculation should be eliminated. finally i believe there's a great need for international cooperation on insol sensy laws. customers would benefit from greater har monoization of the rules with funds for both commodities and securities customers. i've been engaged in active discussions since november with administrators of mfk global limited concerning a return of approximately 700 million of commodities customer properties. thises is being submitted to the uk courts for resolution. we have distributed in excess of $4 billion. thank you for this opportunity to testify before you. >> thank you. >> thank you very much. good morning. thank you for the opportunity to appear here. you have my opening statement. i want to leave time for you. i want pointed as the chapter

cover shortfalls to enable a trustee to transfer accounts to other solvent -- by analogy other solvent scms. i think as mr. duffy was alluding to, there are problems here because under the statute you have to to distribute equally on a prorata basis. so i believe, yes, if you had a fund which would give you more flexibility as a trustee, you could more rapidly transfer accounts and at least have that as available in your arsenal of things to move things along. >> commissioner, could you describe any legal actions or other efforts the cftc has taken to recover the margin $700 million of u.s. customer funds being held in the uk? how is the work of the cftc in this area been coordinated with mr. giden's efforts to protect u.s. customers subject to cftc regulation 30.7? >> thank you, senator. the cftc does not have the authority to bring an action in the uk court proceeding, but we are as we are in the united states working very closely with mr. giden and his staff. the law firm that he has hired to represent the bankruptcy in the uk, in front of the english court, and we will continue to monit

i have never one to given anything to scm bell my brine or kill any cell that i might could use to writeh. i ain't the brightest in the world but i don't want to mess with something by putting something that burn out my circuit somehow. so i'm not judging anybody. i know that things can happen. who knows. can happen to anybody. could happen to me. but i work hard. i tray to always just keep my focus on god and on the writ things. >>reporter: you have had also one of the most followed twitter accounts in the country. hundreds of thousands of people want to find out what dolly is thinking. so that of your tweets have been just gem gems. you say i think all creative people are a little bit nuts. >> i do. i think has what you makes you creative. you are nuts. >> i know that. i have been on that for a listening time. now you told everybody. it's ruined. that secret is out. >> don't you agree. there's quirky. creative. you t you are not normal people what is normal. tivld to do some normal stuff i go back and say i would lake to sit back and be normal. but do i. i think just craziness in creat

if it were necessary to cover shortfalls to enable a trustee to transfer accounts to other solvent scms. i think as mr. duff we was alluding to -- duffy was alluding to, there are problems here because under the statute you have to distribute equally on a pro rata basis. so, yes, i believe that if you had a fund which would give you more flexibility as a trustee, you could more rapidly transfer accounts and at least have that as available in your arsenal of things to move things along. .. >> nares, the sipc does not have authority to bring action in the u.k., court proceeding, but as we are in the united states, we are working very closely with the staff and the law firm he's hired to represent the bankruptcy in the u.k. and part of the english court, and we will continue to monitor all of the different actions that happen in that proceeding. >> do you have anything to add? >> just to confirm that we do confer frequently with the cftc about the strategy in the u.k. and the nature of the legal issues. equally, we have, to the extent we can, shared information with judge free regarding th