Privacy Law Bars CFTC Subpoena Demands, Metals Cos. Say

Law360, Chicago (January 22, 2013, 3:10 PM EST) -- A lawyer for three precious metals companies told the Seventh Circuit on Tuesday that the Right To Financial Privacy Act prevented his client from fully complying with the U.S. Commodity Futures Trading Commission's subpoenas in its investigation of a potential multimillion-dollar shortfall.

Metals financing firm Worth Bullion Group Inc., metals marketing business Mintco LLC and metals storage depository Diamond State Depository LLC are appealing an Illinois federal judge's September order requiring them to fully comply with the investigative subpoenas the CFTC issued as part of its...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.