Reuters: Regulatory News: U.S. trade groups sue CFTC over mutual fund rule

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U.S. trade groups sue CFTC over mutual fund rule Apr 17th 2012, 15:53 WASHINGTON, April 17 | Tue Apr 17, 2012 11:53am EDT WASHINGTON, April 17 (Reuters) - The Investment Company Institute and the U.S. Chamber of Commerce filed a lawsuit against the U.S. Commodity Futures Trading Commission, challenging a recent rule requiring mutual funds to register with the agency, the Chamber of Commerce said on Tuesday. The group said that the rule duplicates a requirement that funds register with the Securities and Exchange Commission. The suit, filed in U.S. District Court for the District of Columbia, alleges that the CFTC did not properly weigh the costs and benefits of the rule before it was finalized.

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