CFTC Rejects Wall Street's Bid To Delay Position Limit Rule

Law360, New York (January 04, 2012, 3:55 PM ET) -- The U.S. Commodity Futures Trading Commission on Tuesday rejected a request by two Wall Street lobbying groups to delay implementation of rules aimed at curbing speculation in commodities markets as the groups mount a legal challenge to the rules.

In a 3-2 vote along partisan lines, the CFTC rejected a Dec. 12 request by the International Swaps and Derivatives Association Inc. and the Securities Industry and Financial Markets Association to delay implementation of the rules, which would limit positions investors can take in certain commodities futures,...
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