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3XSQ: What happens to your money when you give it to your broker? Plus, William Ackman and Burger King

By Chris Clair

Regulators are reportedly going after JPMorgan regarding customer funds—but in relation to Lehman Brothers, not MF Global—and William Ackman takes a 29% stake in Burger King.

The New York Times says the CFTC is expected to file a civil case against it for over-extending credit to Lehman Brothers for two years leading up to its 2008 bankruptcy.

Here’s the paper’s report.

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