According to a statement by Commissioner O’Malia today, the CFTC has voted to dismiss its appeal of the federal district court decision striking down the CFTC’s 2011 position limits rule. The Commission has an open meeting scheduled for November 5 to propose a new position limits rule. Commissioner O’Malia had harsh criticism regarding the taxpayer dollars wasted in pursuing the “dual-track approach” of appealing dismissal of the old rule while preparing a new rule for nearly twelve months. The new position limits rule, expected to provide for a 60-day comment period, will likely be the subject of great interest and continued controversy.
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