Judge throws out CFTC's position limits rule

Submitted by cpowell on 01:41PM ET Friday, September 28, 2012. Section: Daily Dispatches

By Alexandra Alper and Karey Wutkowski
Reuters
Friday, September 28, 2012

Judge Robert Wilkins of the U.S. District Court for the District of Columbia threw out the U.S. Commodity Futures Trading Commission's new position limits rule and sent the regulation back to the agency for further consideration.

Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation.

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I will continue to push hard for a position limits rule, as mandated by Congress. This is clearly a setback but we can learn from it and continue this critical effort to help make our markets safe and fair.

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