6th Circuit Finds CFTC Out Of Bounds In Futures Spat

Law360, New York (January 15, 2008, 12:00 AM EST) -- The Commodities Futures Trading Commission overstepped its boundaries in sanctioning an investment firm for allegedly making misrepresentations in connection with foreign currency trades, an appeals court has ruled.

In a decision handed down last week, the U.S. Court of Appeals for the Sixth Circuit upheld an earlier opinion by the U.S. District Court for the Northern District of Ohio that granted summary judgment to Goros LLC in a case filed by the CFTC.

The appeals court affirmed the lower court's ruling that the trades the CFTC...
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