Wall Street Court Defeat Strengthens Swap Rules Overseas
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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 guidelines that extend the regulator’s reach into swap deals handled in the U.K., Japan and other foreign countries.