CFTC Says Bloomberg's Delay In Filing Sinks Swap Rule Case

Law360, New York (May 17, 2013, 3:28 PM EDT) -- The U.S. Commodity Futures Trading Commission on Thursday argued that Bloomberg LP's 18-month delay in challenging the agency's margin requirements for “swap” and “futures” derivatives showed that the company had no standing or good justification for seeking to block application of the rule.

In a reply memorandum filed in Washington federal court, the CFTC urged U.S. Judge Beryl A. Howell to reject Bloomberg's bid for a preliminary injunction putting a hold on margin requirements for swaps and futures contracts, which were finalized in October 2011 and...
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