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News Summary: Judge strikes rule limiting trades

Associated Press Published: September 28, 2012

RULE STRUCK DOWN: A federal judge struck down a rule adopted under the 2010 financial overhaul that seeks to limit speculative trading of commodities futures.

TRADING CAPS: The judge said the Commodity Futures Trading Commission failed to show that trading caps were necessary. He sent the rule back to the regulatory agency to be redrafted.

VICTORY FOR INDUSTRY GROUPS: The International Swaps and Derivatives Association, a group representing banks and other financial firms, and Wall Street's largest trade group, the Securities Industry and Financial Markets Association, had challenged the rule in the U.S. District Court in Washington.