A judge's decision to vacate the U.S. Commodities Futures Trading Commission’s new position limits rules in derivatives under Dodd-Frank, could "call into question all of the new financial reform," writes Dan Dicker, an op-ed contributor to The Street.
Judge Robert L. Wilkins of the United States District Court for the District of Columbia vacated the rule because the "CFTC did not pass his test of proving that position limits were necessary before imposing them," writes Dicker.
For the CFTC to have any bite on these matters Dicker argues and appeal is necessary – albeit unlikely. "It is becoming clear that the banks and traders have won their long battle and continue to notch victories in turning much of the Dodd-Frank legislation into a toothless and weak paper tiger," Dicker concludes
For the full piece see "Court's Ruling Deals Dodd-Frank Another Blow" (may require subscription).