US regulator loses retail fraud case appeal

A spokesperson for the CFTC in Washington said: “We are disappointed in the decision and are looking at all the available options.” This might include appealing until every judge on the seventh circuit has heard the case, he said. The CFTC has until August 14 to file papers if it wishes to appeal again.

The case centred on whether the contracts offered by AlaronFX could be classified as “contracts of sale of a commodity for future delivery” which are regulated by the CFTC. AlaronFX argued

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