Wall Street Groups Sue CFTC Over Position Limit Rule

Law360, New York (December 2, 2011, 4:29 PM EST) -- A pair of Wall Street industry groups on Friday sued to block rules aimed at curbing speculation in the commodities markets by limiting positions investors can take, the latest legal challenge by the financial industry to last year's financial regulatory reform.

In a complaint filed in Washington federal court, the International Swaps and Derivatives Association Inc. and the Securities Industry and Financial Markets Association said the U.S. Commodity Futures Trading Commission did not perform a proper cost-benefit analysis on its position limits rule prior to finalizing...
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