The International Swaps & Derivatives Association & the Securities Industry and Financial Markets Association have filed suit against the CFTC over the implementation of position limits in commodities.
What, did you think Blythe and Jamie were going to simply roll over? JP Morgan's naked short silver position is still approximately 75-80 million ounces according to estimates by Ted Butler. While they aren't likely to win, they will attempt to delay the implementation of effective position limits in gold and silver as long as possible.
WASHINGTON—Critics of last year's Dodd-Frank financial-overhaul law are taking their fight to the courts, after first lobbying lawmakers and then regulators to push back a rule aimed at curtailing bets in commodities markets.
Two Wall Street trade groups—the Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association—on Friday filed joint lawsuits against the Commodity Futures Trading Commission. The groups are seeking to throw out the rules creating new limits on traders' speculative positions or for regulators to be forced to justify the necessity of the rules before they go into effect.
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