US energy firms brace for position limits
The CFTC’s decision to press ahead with enforcement of the position-limits rule, despite an industry court challenge, means that US energy companies must get serious about compliance in 2012
Last week, the US Commodities Futures Trading Commission signalled that it would take a hard line against Wall Street's efforts to thwart a new rule to impose position limits on futures and swaps in 28 commodities, including oil and gas. On January 4, the CFTC asked a federal court to dismiss a legal challenge by two industry groups who had accused the commission of making procedural mistakes in the rule-making process. Separately, in a 3-2 party-line vote, the CFTC rejected an appeal from the
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