CFTC Defends Mutual Fund Rule From Legal Challenge

Law360, New York (June 19, 2012, 1:10 PM EDT) -- The U.S. Commodity Futures Trading Commission on Monday defended its new rule requiring mutual funds to register with the agency, urging a Washington federal judge to throw out a suit by two business groups who claim the reform is overly burdensome.

The agency offered an exhaustive defense of the rule — and of its broader efforts to regulate the derivatives market — in a 66-page motion to dismiss the April 17 suit by the U.S. Chamber of Commerce and the Investment Company Institute.

The groups claim...
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