Securities
Aug. 5, 2009
Federal Appeals Court Rebuffs Commission on Foreign Currency Enforcement
A three-judge panel of the 9th U.S. Circuit Court of Appeals beaned the Commodity Futures Trading Commission on Monday for bringing an enforcement action outside its jurisdiction and making "muddled" arguments.
Daily Journal Staff Writer A three-judge panel of the U.S. 9th Circuit Court of Appeals beaned the Commodity Futures Trading Commission on Monday for bringing an enforcement action outside its jurisdiction and making "muddled" arguments. Though working off the assumption that a La Jolla investment manager committed fraud, the appellate panel asked a district judge to dismiss the CFTC complaint because it found the statute under whi...
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