CFTC Beats Bloomberg's Challenge To New Swap Rules

Law360, New York (June 10, 2013, 2:53 PM EDT) -- A Washington federal judge on Friday tossed Bloomberg LP's suit challenging the U.S. Commodity Futures Trading Commission's margin requirements for swap and futures derivatives, finding that the company failed to show that it would directly suffer financially from the new rules.

Bloomberg lacked standing to fight the commission's new regulation and didn't adequately demonstrate that it faced “imminent and irreparable harm” if the judge didn't grant a preliminary injunction blocking the rule's implementation, according to the opinion. Instead, the company assumed a doomsday “chain of events”...
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Case Information

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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