CFTC Adopts Proposed Position Limit Rule

Law360, New York (January 13, 2011, 1:25 PM EST) -- The U.S. Commodity Futures Trading Commission voted Thursday to adopt a proposal of new rules placing position limits on derivative swaps to curb excessive speculation in agricultural, energy and metals markets.

By a 4-1 vote, the top U.S. futures regulator put out for comment a rule that would limit the positions traders could take in the commodity markets. The proposed rule is part of the CFTC's massive rulemaking push mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Only Commissioner Jill Sommers,...
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