COMMODITY FUTURES TRADING COMMISSION, Plaintiff-Appellee,
v.
William C. DUNN and Delta Consultants, Inc., Defendants-Appellants,
Delta Options, Ltd. and Nopkine Co., Ltd., Defendants.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued September 29, 1994.
Decided June 23, 1995.
Attorney(s) appearing for the Case
Gary D. Stumpp, Stumpp & Mandaville, New York City (Adam M. Bond, Stumpp & Mandaville, New York City, of counsel), for defendants-appellants.
David R. Merrill, Deputy Gen. Counsel, Commodity Futures Trading Com'n, Washington, DC (Pat G. Nicolette, Acting Gen. Counsel, Jay L. Witkin, Deputy Gen. Counsel, Jeffrey S. Holik, Asst. Gen. Counsel, Gracemary R. Moleski, Attorney, Commodity Futures Trading Com'n, Washington, DC of counsel), for plaintiff-appellee.
David Yeres, John M. Quitmeyer, Rogers & Wells, New York City, for amicus curiae, Credit Lyonnais, Danforth Newcomb, Shearman & Sterling, New York City, for amicus curiae Bank Julius Baer & Co. Ltd., Kent T. Stauffer, Judah A. Shechter, New York City, for amicus curiae The Chase Manhattan Bank, N.A.
James M. Kenny, Kenny & Stearns, New York City (John G. Gaine, Gen. Counsel, Managed Futures Ass'n, Barbara Wierzynski, Gen. Counsel, Futures Industry Ass'n, Inc., J. Paula Pierce, David M. Kozak, Kenny & Stearns, New York City, of counsel), for amici curiae Managed Futures Ass'n and Futures Industry Ass'n, Inc.
Richard H. Klapper, Sullivan & Cromwell, New York City (Kenneth M. Raisler, Timothy J. Helwick, John T. Corcoran, Sullivan & Cromwell, New York City, of counsel), for amici curiae The Foreign Exchange Committee and the New York Clearing House Ass'n.
Before: WINTER, JACOBS, and CABRANES, Circuit Judges.
United States Court of Appeals, Second Circuit.
WINTER, Circuit Judge:
This is an interlocutory appeal from the appointment of a temporary receiver. The principal legal issue is whether the Commodity Futures Trading Commission ("CFTC") has power to regulate off-exchange options involving foreign currencies. Based on a prior decision of this court binding on this panel, we hold that it does and affirm.
BACKGROUND
This is an action by the Commodity Futures Trading Commission against four defendants...
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