U.S. COMMODITY FUTURES TRADING v. MONEX CREDIT

No. 18-55815.

931 F.3d 966 (2019)

U.S. COMMODITY FUTURES TRADING COMMISSION, Plaintiff-Appellant, v. MONEX CREDIT COMPANY; Monex Deposit Company; Newport Services Corporation; Michael Carabini; Louis Carabini, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed July 25, 2019.


Attorney(s) appearing for the Case

Robert A. Schwartz (argued), Deputy General Counsel; Anne W. Stukes , Assistant General Counsel; Daniel J. Davis , General Counsel; U.S. Commodity Futures Trading Commission, Washington, D.C.; for Plaintiff-Appellant.

Neil A. Goteiner (argued), Elizabeth A. Dorsi , and C. Brandon Wisoff , Farella Braun & Martel LLP, San Francisco, California, for Defendants-Appellees.

Before: Eugene E. Siler, A. Wallace Tashima, and M. Margaret McKeown, Circuit Judges.


OPINION

A two-letter conjunction and a two-word phrase decide this case. At stake are hundreds of millions of dollars. Congress, acting shortly after the economy began to stabilize from the financial crisis that began a decade earlier, passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No...

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