Lawsuit Challenges Justification for CFTC Position
By Andrew Longstreth
Published December 9 2011 Reuters
A lawsuit challenging the U.S. futures regulator's new rule limiting the size of commodity derivatives positions under the Dodd-Frank financial reform act could turn on whether the regulator did enough analysis to justify the rule. Two Wall Street trade groups sued the Commodity Futures Trading Commission last week, claiming the CFTC "grossly misinterpreted its statutory authority" under the 17-month-old Dodd-Frank Act when it concluded that Congress required it to establish position limits.
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