9th Circ. Opinion Validates Broader CFTC Authority

Law360 (August 6, 2019, 4:07 PM EDT) -- Traditionally, the jurisdiction of the the U.S. Commodity Futures Trading Commission has been tied to the futures markets. Contracts for future delivery were within the reach of the agency and its regulatory regime. Forward contracts were not.

The Dodd-Frank Act sought to expand the reach of the agency by extending it in two important ways. First, it gave the agency authority over leveraged commodity transactions. Second, it added a broad new anti-fraud statute modeled on Commodity Exchange Act Section 10(b).

Following the passage of these amendments, the question is the actual reach of the CFTC. The U.S. Court of Appeals for...

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