United States Ninth Circuit

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.

Appellate Information

• Argued 03/04/2009
• Decided 08/03/2009
• Published 08/03/2009

Judges

• O'SCANNLAIN, Circuit Judge:, Before:  DIARMUID F. O'SCANNLAIN, PAMELA ANN RYMER, and KIM McLANE WARDLAW, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Dirk T. Metzger, Esq., San Diego, CA, argued the cause for appellant and filed briefs.


• For Appellees:
  
• Nancy R. Page, Assistant General Counsel, Commodity Futures Trading Commission, Washington, D.C., argued the cause for appellee and filed briefs;  Terry S. Arbit, General Counsel, and Bradford M. Berry, Deputy General Counsel, Commodity Futures Trading Commission, Washington, D.C., were also on the briefs.