CFTC Drops Position Limits Appeal, Commissioner Says

Law360, New York (October 29, 2013, 3:24 PM EDT) -- The U.S. Commodity Futures Trading Commission voted to drop its appeal of a federal district court ruling that overturned its proposal to place new limits on derivatives trading, a CFTC commissioner said Tuesday.

CFTC Commissioner Scott D. O'Malia said the commission voted to drop its appeal before the D.C. Circuit as it moves forward with a new position limits rule early next month, and as the commission has been forced to furlough staff because of a restrictive budget.

“Wasting valuable taxpayer dollars on this legal dead-end...
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