CFTC to Court: Position Limits Appeal Will Be Dropped if New Rule Reached on Nov. 5 (with Lofchie Comment)

The CFTC filed the notice linked below in a position limits litigation, advising the court that if the CFTC votes at the November 5 meeting to issue a new proposed position limits rule that is supported by a cost-benefit analysis, then the Commission will voluntarily dismiss its appeal of a decision that it could not impose position limits without performing such an analysis.

Lofchie Comment: A significant amount of academic literature argues against the imposition of position limits. This viewpoint should receive a fair hearing from all of the Commissioners.

See: CFTC Notice to Court Regarding Position Limits Meeting.Related News: "Blog Post Quotes Commissioner Wetjen on Position Limits" (October 23, 2013); "CFTC Commissioner O'Malia Blasts Cross-Border Guidance and Potential Position Limits Rule (with Lofchie Comment)" (September 26, 2013); "ISDA and SIFMA v. CFTC Court Date Set for Oral Arguments on Position Limits" (August 23, 2013); "CFTC's Appeal Brief on Position Limits Litigation (with Zwirb Comment)" (July 24, 2013); "Interested Parties Submit Opposing Amicus Brief in ISDA v. CFTC Position Limits Case (with Zwirb Comment)" (June 25, 2013).