CFTC Chairman Backs Appeal Of Position Limits Ruling

Law360, New York (October 23, 2012, 4:39 PM EDT) -- U.S. Commodity Futures Trading Commission Chairman Gary Gensler said Tuesday the agency should appeal a recent Washington federal court decision blocking new Dodd-Frank Act limits on derivatives trading positions.

“I support moving forward with such an appeal,” Gensler told a gathering of securities industry professionals in New York.

A Washington federal judge struck down the so-called position limits rule Sept. 28. The measure would have limited the number of options or futures contracts a trader could hold on 28 commodities involving energy, metals and agriculture....
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