CFTC Denies Request to Stay Effective Date of Position Limits Rule (Order)

http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/order010…

The CFTC in a 3-2 vote denied a motion by Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association to delay its implementation of its recently adopted final rule on position limits pending the resolution of challenges they filed on December 2, 2011, in the U.S. District Court for the District of Columbia and the U.S. Court of Appeals for the District of Columbia Circuit. Commissioners Sommers and O'Malia dissented from the denial of the motion. The petitioners noted that the SEC stayed its "proxy access" rule in response to a similar request last year.

Cross References: Dodd-Frank Section 737; 5 U.S.C. § 705; 76 F.R. 71626; Int'l Swaps Derivatives Ass 'n v. CFTC, No. 1:11~cv~2146 (D.D.C.); Int'l Swaps &Derivatives Ass'n v. CFTC, No. 11~1469 (D.C. Cir.).