The U.S. District Court for the District of Columbia issued a ruling on Sept. 28, 2012 striking down the Commodity Futures Trading Commission's position limits rule. The court held that the CFTC did not interpret correctly the section of the Dodd-Frank Act that authorizes the CFTC to set position limits. The court action was initiated by the International Swaps and Derivatives Association and the Securities Industry and Financial Markets Association, which filed a lawsuit challenging the rule in December 2011.
