The Commodity Futures Trading Commission has once again prevailed in a legal challenge brought by the Investment Company Institute and the U.S. Chamber of Commerce. The industry groups sought to overturn rulemaking requiring mutual fund companies that invest in commodities to register with it.
The U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of the CFTC in a decision issued Tuesday, upholding an earlier ruling in federal district court. In its decision, the court rejected arguments that the CFTC’s rulemaking would be an unnecessary cost and compliance burden because mutual funds are already overseen by the Securities and Exchange Commission.
