Copper Mountain Mining Corporation T.CUM

Copper users ask SEC to reverse copper ETF ruling

[M1DAS]

U.S. copper users criticized U.S. regulators as “arbitrary and capricious” and requested they reverse their ruling in favor of JPMorgan Chase & Co’s controversial plan for a copper exchange-traded fund.

The letter, filed with the U.S. Securities and Exchange Commission by a group representing half the U.S. demand for copper, could delay the ETF launch further and be the last step before a court challenge of the SEC’s ruling.

The fabricators in their Jan. 9 letter said the SEC had not presented enough evidence to show the fund would not distort supply and prices of the metal used widely in plumbing and cooling systems.

https://business.financialpost.com/2013/01/11/copper-users-ask-sec-to-reverse-copper-etf-ruling/?utm_source=dlvr.it&utm_medium=twitter&__lsa=c6b7-1491