Skip to content

Archegos Seeks CFTC Fraud Suit Dismissal, Saying It Lacks Authority

Bill Hwang departs federal court in New York on April 27.
Bill Hwang departs federal court in New York on April 27.Photographer: Michael Nagle/Bloomberg
Updated on

Bill Hwang’s Archegos Capital Management asked a judge to throw out a suit by the Commodity Futures Trading Commission, claiming the regulator lacks jurisdiction over it.

Archegos claimed in a filing Friday that the CFTC has no authority to regulate the shares and swaps through which the firm made its investments. Only the Securities Exchange Commission, which is also suing Archegos, has jurisdiction over those instruments, the firm claimed.