DC Circ. Won't Hear Challenge To Position Limits Rule

Law360, New York (January 20, 2012, 9:41 PM EST) -- The D.C. Circuit on Friday refused to consider two Wall Street lobbying groups' bid to block the U.S. Commodity Futures Trading Commission from implementing its position limits rule, saying the groups will have to challenge the rule in district court first.

The D.C. Circuit said the International Swaps and Derivatives Association Inc. and the Securities Industry and Financial Markets Association can't directly challenge the rule in an appeals court because there has been no express congressional authorization of direct appellate review of the rule.

The rule,...
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