Senators defend CFTC position limits rule

A group of 19 U.S. Senators filed a court brief defending a Dodd-Frank final rule intended to limit the effects of speculation on the price of oil and other physical commodities. Two industry groups want a federal court to vacate the regulations, arguing that the Commodity Futures Trading Commission adopted the rule without determining whether it was actually required under Dodd-Frank. Read on to learn why the Senators said the rulemaking was mandated by the act.