Wall Street, CFTC Face Off
By Katy Burne & Jamilia Trindle
Published December 2 2011 Wall Street Journal
Critics of last year's Dodd-Frank financial-overhaul law are taking their fight to the courts, after first lobbying lawmakers and then regulators to push back a rule aimed at curtailing bets in commodities markets. Two Wall Street trade groups—the Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association—on Friday filed joint lawsuits against the Commodity Futures Trading Commission. The groups are seeking to throw out the rules creating new limits on traders' speculative positions or for regulators to be forced to justify the necessity of the rules before they go into effect.
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