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5135   The Legal Challenge to the CFTC’s New Registration Regime for Mutual Funds 30 Oct 2:00PM 3:00PM October Tuesday 9 2012
In early 2012, the CFTC amended its rules to require many mutual funds using futures, swaps and options to register with the CFTC. The ICI and Chamber of Commerce challenged this rule in court, and the Forum filed a friend of the court brief on behalf of fund directors and shareholders.  The court heard argument on the lawsuit on October 5, 2012. Under the rule amendments, funds are required to register with the CFTC by December 31, 2012. 
 
The lawsuit challenging the CFTC alleges that the court should vacate the rule because the agency "failed to identify a significant benefit, acknowledged that the rule would impose significant costs, and imposed those costs in a manner that made it impossible to evaluate the full extent of the costs before the rule's adoption." The Forum's brief argues that the additional costs will be passed along to fund shareholders, without any identifiable benefits.
 
Dechert partners Brendan Fox and Steve Bradbury provided an update on the progress of the case against the CFTC, with insight gleaned from their analysis of the court hearing on October 5, 2012.
 
The webinar was broadcasted live from 2:00 to 3:00 Eastern time on Tuesday, October 9, 2012.
            Forum Webinar Series      
Brendan Fox
Partner
Dechert, LLP
 
Steven Bradbury
Partner
Dechert, LLP
    W   Oct October Tuesday 9 2012     0.0000 0.0000
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