United States Seventh Circuit

Business's advice on commodities markets to customers is subject to antifraud provisions of the Commodity Exchange Act, and not exempt under the First Amendment, but agency's administrative subpoenas were excessively burdensome and threatened normal business operations.

Appellate Information

• Argued 11/09/2000
• Decided 12/06/2000
• Published 12/06/2000

Judges

• FLAUM, Chief Judge., Before FLAUM, Chief Judge, and RIPPLE and KANNE, Circuit Judges.

Court

• United States Seventh Circuit

Counsel

• For Appellant:
  
• William J. Nissen (argued), Sidley & Austin, Chicago, IL, for Commodity Trend Services, Inc., Dennis Blitz, Nick Vannice, CTS Financial Publishing, Inc., Dearborn Financial Publishing, Inc., Martin B. White, Commodity Futures Trading Com'n, Office of the General Counsel, Washington, DC, for Commodity Futures Trading Com'n in Nos. 99-4142 and 99-4143., Daniel Waldman, Commodity Futures Trading Com'n, Office of the General Counsel, Washington, DC, Susan A. Berkowitz, Commodity Futures Trading Com'n, Chicago, IL, for Commodity Futures Trading Com'n in No. 00-3734.