In a securities fraud action by the Commodity Futures Trading Corporation (CFTC), summary judgment for plaintiff is reversed where neither subsection 2(c)(2)(B) nor subsection 6c(b) of the Commodity Exchange Act grants the CFTC jurisdiction over discretionary trading accounts in foreign currency options.
Argued and Submitted March 4, 2009
Filed August 3, 2009
Opinion by Judge O'Scannlain
Nancy R. Page, Assistant General Counsel, Commodity Futures Trading Commission, Washington, DC
Terry S. Arbit, General Counsel, Commodity Futures Trading Commission, Washington, DC