Criminals: CME Group sues to freeze CFTC swap reporting rules
by Basil Katz, Reuters:
Exchange operator CME Group asked a U.S. court on Thursday to prevent the chief U.S. derivatives regulator from enforcing swap reporting rules passed after the 2008 financial crisis.
Thursday’s lawsuit, filed in federal court in Washington D.C., is the third industry challenge to the Commodity Futures Trading Commission (CFTC) in its history.
In the lawsuit, CME asks that a judge issue an injunction that would prevent the CFTC from enforcing the rules against the exchange when they come into effect for it on Nov. 13.
By adopting the rules, “the CFTC acted in a manner that was arbitrary and capricious and otherwise not in accordance with law”, the lawsuit said.
2012-11-09 15:19:46
Source: http://sgtreport.com/2012/11/criminals-cme-group-sues-to-freeze-cftc-swap-reporting-rules/
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