Court Upholds $26 Million Judgment In Salomon Versus Tauber Decision

NON-BANKS

The U.S. Court of Appeals for the Fourth Circuit which sits in Virginia upheld a June 1992 decision in favor of Salomon Forex, Inc. in the case brought against Dr. Laszlo Tauber. The October 18 opinion issued by a panel of three judges has significant implications for the market, sources say.

First and foremost, they say, it removes a degree of uncertainty surrounding the possibility that the Commodity Futures Trading Commission (CFTC) could have regulatory jurisdiction over the interbank FX