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FIA submits amicus brief addressing the standard for attempted manipulation under the Commodity Exchange Act

FIA submits amicus brief addressing the standard for attempted manipulation under the Commodity Exchange Act

15 January 2016 3:45pm EST

On 12 January 2016, FIA joined CME Group, the Commodity Markets Council, Intercontinental Exchange, and the Managed Funds Association in requesting the United States District Court for the Southern District of New York accept an amicus brief addressing the standard for attempted manipulation under the Commodity Exchange Act (Docket No. 13-7884 (AT/KF)).

Update, 15 June 2016: United States District Judge Analisa Torres granted permission for FIA and the other amici to file the brief. 

Update, 30 September 2016: United States District Judge Analisa Torres rejected the CFTC’s claim that it can prove the intent element of a manipulation or attempted manipulation merely by showing an intent to affect price, and instead ruled, consistent with our joint amicus brief and established precedent, that the CFTC must prove an intent to create an artificial price.

Attachments

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2016-01-12_Amicus_Brief.pdf (350.45 KB)
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2016-06-15_Amicus_Motion_Granted.pdf (80.63 KB)
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2016-09-30_Amicus_Ruling.pdf (1.68 MB)

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