Wall Street weighs legal fight against CFTC

Outgoing Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler’s eleventh-hour burst of activity could draw a legal challenge from Wall Street, Bloomberg reports.

Gensler, who will step down at the end of the year, has issued a flurry of restrictive guidance in recent weeks, capping an aggressive five-year tour of duty as chief derivatives regulator.

But the financial industry’s trade groups are in discussions with attorneys about whether they could block Gensler’s final moves, according to the Bloomberg report, which cites interviews with four people briefed on the matter.

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