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Court Decision Strengthens CFTC

Wall Street challenge to agency's jurisdiction of overseas swaps markets largely thrown out in U.S. district court.

By Silla Brush, Andrew Zajac, and Robert Schmidt, Bloomberg | Updated on September 17, 2014

Wall Street’s bid to rein in U.S. derivatives regulation was rejected by a federal judge in a significant victory for the government’s ability to police trading outside the country.

U.S. District Judge Paul Friedman threw out much of an industry challenge questioning the legality of Commodity Futures Trading Commission (CFTC) guidelines that extend the regulator’s reach into swap deals handled in the U.K., Japan, and other foreign countries.

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