United States Senators File Amicus Brief in Support of New Trading Regulations
Nineteen U.S. Senators, with the assistance of Bredhoff & Kaiser, have filed an amicus brief in the U.S. District Court for the District of Columbia in support of new regulations imposed by the Commodity Futures Trading Commission (“CFTC”).
The regulations, which set limits on the number of derivatives contracts a trader may hold, have come under fire from two trade associations representing hundreds of banks and asset managers. The Senators’ brief argues that the CFTC’s rulemaking was consistent with congressional intent to prevent excessive speculation and price manipulation in U.S. commodities markets.