Wall Street’s biggest lobbying groups banded together to sue the Commodity Futures Trading Commission (CFTC), seeking to curb the overseas reach of its rules and rein in a regulatory barrage by its departing Chairman Gary Gensler.
Cross-border revolving credit facilities, derivatives among the agreements that could be affected.
There’s no question that litigation costs loom among the top concerns currently bogging down companies. In fact, anywhere from 20 to 50 percent of a corporation’s legal spend is earmarked for litigation and e-discovery costs.
Canada and Mexico reject the U.S. hard line.
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