Commodity Futures Trading Commission v. Frankwell Bullion Ltd.

CHOY, Circuit Judge:

Plaintiff-appellant Commodity Futures Trading Commission (“CFTC”) appeals the summary judgment granted in favor of defendant-appellee Frankwell Bullion, Ltd. and its affiliates (“Frankwell”). The district court held that Frankwell was exempted from the jurisdiction of the CFTC by the so-called “Treasury Amendment” to the Commodity Exchange Act (“CEA”) because it was not a “board of trade” within the meaning of that amendment. We affirm that ruling of the district court.

The CFTC also appeals the district court’s imposition of receivership fees upon the CFTC. We affirm that…