CFTC Mutual Fund Rule Survives Challenge In DC Circ.

Law360, New York (June 25, 2013, 12:12 PM EDT) -- The D.C. Circuit on Tuesday upheld a U.S. Commodity Futures Trading Commission rule requiring mutual funds to register with the agency, striking down a challenge by business groups that claimed the measure was issued without a proper cost-benefit analysis.

A three-judge panel refused to reinstate the suit by the Investment Company Institute and U.S. Chamber of Commerce. The groups had argued that the proposed rule was “arbitrary and capricious,” in part because the CFTC allegedly failed to consider whether existing U.S. Securities and Exchange Commission regulations...
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