Commodity Futures Trading Comm. v. White Pine Futures Corp., No. 07-56629

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.

Read Commodity Futures Trading Comm. v. White Pine Futures Corp., No. 07-56629

Appellate Information

Argued and Submitted March 4, 2009

Filed August 3, 2009

Judges

Opinion by Judge O'Scannlain

Counsel

For Appellant:

Dirk T. Metzger, San Diego, CA

For Appellee:

Nancy R. Page, Assistant General Counsel, Commodity Futures Trading Commission, Washington, DC

Terry S. Arbit, General Counsel, Commodity Futures Trading Commission, Washington, DC