Groups Pan CFTC's 'Broad Brush' Defense Of Mutual Fund Rule

Law360, New York (July 3, 2012, 2:19 PM EDT) -- Two business groups suing the U.S. Commodity Futures Trading Commission to block tighter regulation of mutual funds on Monday criticized a recent CFTC court filing tying the industry to the 2008 financial crisis, accusing the agency of “painting with a broad brush.”

The U.S. Chamber of Commerce and the Investment Company Institute asked a Washington federal judge to reject the CFTC’s April 17 motion to dismiss the suit. The groups claim the CFTC did not weigh the potential costs of forcing mutual funds to register as...
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