Commodity Futures Trading Commission chairman Gary Gensler said Monday he recused himself from the regulator’s probe of the failure of derivatives player MF Global, because “I didn't want my participation to in any way be a distraction.''

Gensler on Friday recused himself from the probe of the once little-known investment bank and derivatives trading firm. Gensler was a partner at Goldman Sachs when its chief executive was MF Global chief executive Jon Corzine.

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