Court of Appeals Rejects Challenge to CFTC’s Rule 4.5

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The U.S. Court of Appeals for the D.C. Circuit on June 25, 2013 held that the Commodity Futures Trading Commission (CFTC) lawfully adopted amendments to a rule that will require many investment companies to be regulated as commodity pools.

The Court upheld a U.S. District Court ruling against the Investment Company Institute (ICI) and the U.S. Chamber of Commerce (Appellants), who challenged the CFTC’s 2010 amendments to Rule 4.5, claiming, among other things, that the CFTC acted in an arbitrary and capricious manner.

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Topics:  CFTC, CPO, Investment Companies, Swaps

Published In: General Business Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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