• CFTC Position Limit Rules Challenged in Lawsuit by ISDA and SIFMA
  • December 8, 2011 | Authors: Jeffrey J. Nichols; Brian Sung
  • Law Firms: Haynes and Boone, LLP - Houston Office ; Haynes and Boone, LLP - New York Office
  • On Friday, December 2, 2011, the International Swaps and Derivatives Association ("ISDA") and the Securities Industry and Financial Markets Association ("SIFMA") jointly filed a lawsuit in the U.S. District Court for the District of Columbia against the Commodity Futures Trading Commission ("CFTC") and a petition for review in the U.S. Court of Appeals for the District of Columbia Circuit challenging the final rules establishing speculative position limits on certain physical commodity futures and option contracts (the "Position Limit Rules"), which were adopted by the CFTC at its October 18, 2011 meeting.