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CFTC Rule Restraining Speculation Rejected by U.S. Judge

The U.S. Commodity Futures Trading Commission rule restraining speculation was rejected by a federal judge, handing a victory to two Wall Street groups that challenged the constraints.

U.S. District Judge Robert Wilkins in Washington today ruled that the 2010 Dodd-Frank Act is unclear as to whether the agency was ordered by Congress to cap the number of contracts a trader can have in oil, natural gas and other commodities without first assessing whether the rule was necessary and appropriate.