Kill CFTC Mutual Fund Rule, US Chamber Tells DC Circ.

Law360, Washington (May 6, 2013, 3:40 PM EDT) -- The U.S. Chamber of Commerce and the Investment Company Institute urged a D.C. Circuit panel on Monday to nix a U.S. Commodity Futures Trading Commission rule requiring mutual funds to register with the agency, saying the CFTC didn't conduct a proper cost-benefit analysis and created significant regulatory overlap with the requirement.

While the CFTC told the court the registration rule would provide the agency with additional oversight over the commodities markets, ICI counsel Eugene Scalia blasted the claims, saying the agency's move could seriously deter mutual...
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