Ninth Circuit Rejects Challenge To CFTC Sanctions

Law360, New York (June 5, 2007, 12:00 AM EDT) -- The U.S. Court of Appeals for the Ninth Circuit has rejected a petition against the Commodity Futures Trading Commission that challenged whether a federal agency has a right to pursue a case against an individual trader who broke a commodity exchange rule.

On Monday, the Ninth Circuit denied the petition brought by trader Andy Saberi, tossing out his claim that the CFTC violated his due process by imposing sanctions following his infraction of a Chicago Mercantile Exchange rule.

“Contrary to Saberi's contention in his petition for...
To view the full article, register now.