Bloomberg Sues CFTC Over Collateral Swap Rule

Law360, New York (April 16, 2013, 9:55 PM EDT) -- Bloomberg LP on Tuesday sued the U.S. Commodity Futures Trading Commission over its different margin requirements for “swap” and “futures” derivatives, saying the commission’s rule sets back the Dodd-Frank Wall Street Reform and Consumer Protection Act’s goal of increasing the transparency of such trades.

In a complaint filed in Washington federal court, Bloomberg, which runs the Bloomberg Professional electronic trading service, argued that the CFTC’s rule took a “form-over-substance” approach that imposes different margin, or collateral, requirements for financial swaps, and futures or commodity-based swaps....
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Case Title

BLOOMBERG L.P. v. UNITED STATES COMMODITY FUTURES TRADING COMMISSION


Case Number

1:13-cv-00523

Court

District Of Columbia

Nature of Suit

Other Statutory Actions

Judge

Beryl A. Howell

Date Filed

April 16, 2013

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