Casey Khan

Jan 22, 2024 | lexology.com | Christopher Lee |Steven Sexton |Joanna R. Travalini |Paul Tyrrell |Casey Khan |Andrew Yodis

On January 8, 2024, the Fifth Circuit Court of Appeals reversed a $6.5 million jury verdict, holding that the U.S. Commodity Futures Trading Commission (CFTC) failed to provide fair notice of its interpretation of a decades-old rule preventing commodities traders from “taking the other side of orders” without clients’ consent.1 The Fifth Circuit noted that this was a case of first impression and agreed with EOX Holdings LLC (EOX) and its commodities broker, Andrew Gizienski, that the CFTC...