Close Cap-And-Trade Ruling Likely To Fire Up Critics

Law360, San Diego (November 15, 2013, 10:26 PM EST) -- Even as a California judge ruled the state could auction off carbon-emission allowances Thursday, he acknowledged that the dispute over whether the allowances are a lawful fee or an unconstitutional tax presented a “close question,” giving opponents fodder for an appeal in a fight that could jeopardize the state’s landmark cap-and-trade program, lawyers say.

Sacramento County Superior Court Judge Timothy Frawley released a decision Thursday finding that while the charges for the allowances as part of the California Air Resources Board’s efforts to cut greenhouse gas...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.