Regulators Frozen By Fear Of Wall Street Suits: CFTC Member

Law360, New York (March 8, 2012, 6:39 PM EST) -- Some U.S. financial regulators are "virtually paralyzed" by a constant fear that Wall Street banks will sue them over cost-benefit studies they conduct as part of their Dodd-Frank rule-making, a member of the U.S. Commodity Futures Trading Commission said Thursday.

The fear is well-founded given that Wall Street groups have already sued and won over past studies, according to Bart Chilton, a Democrat on the CFTC. Most recently, the International Swaps and Derivatives Association Inc. and the Securities Industry and Financial Markets Association sued the CFTC...
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