Washington DC, December 12, 2012—
“In a lengthy, thoughtful 93 page opinion, the Federal District Court rejected the industry’s latest attack on the CFTC and its rulemaking,” said Dennis Kelleher, President and CEO of Better Markets, regarding today’s decision by the Federal District Court in the District of Columbia in the case of Investment Company Institute and Chamber of Commerce of the United States of America v. United States Commodity Futures Trading Commission.
“This is a total victory not just for the CFTC, but also for financial reform. This is also a victory for taxpayers who are still paying the price for the financial collapse caused largely by unregulated reckless trading and investments. Hopefully, the industry will see this as a sign to call off their war on regulation and the regulators,” Mr. Kelleher continued.
View Better Markets’ Amicus Curiae brief in this case here
Better Markets is an independent, nonprofit, nonpartisan organization that promotes the public interest in financial reform in the domestic and global capital and commodity markets. Better Markets advocates for transparency, oversight and accountability with the goal of a stronger, safer financial system that is less prone to crisis and failure thereby eliminating or minimizing the need for more taxpayer funded bailouts.