2:25-cv-575-APG-BNW MOTION HEARING - ROUGH DRAFT - DO NOT CITE!!!
13
1 2 3 4 5 6 7 8 9
correct.
THE COURT: You don't need to go there. I agree with you on that. I think their brief didn't address -- your reply picked up the comments I was going to make, frankly, so you're fine there. But you said something that bothered me. MR. HAVEMANN: I try not to do that, Your Honor, so I'd love the opportunity -- THE COURT: Bothered me in a good way. Let's put it that way. Raised a question for me, and I've lost my train of thought. Give me a second here and let me look at my transcript. Awe. It's sort of a minor point, but you said once the CFTC makes a determination that this swap is, in a sense, permitted under the CEA, but really, that's not quite right. What happens is you self-certify, we're going forward with this, and if the CFTC doesn't say anything about it, then it's deemed to be okay? MR. HAVEMANN: That's correct, yes. They have an opportunity to review at the back end, and if they choose not to exercise that review, that reflects a judgment, too. THE COURT: And slightly contrary to what was said in the motion, it's not a ten-day review period; it's a 90-day review period, correct? MR. HAVEMANN: I think -- I'm sorry if we were
10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
UNITED STATES DISTRICT COURT Judy K. Moore, RMR, CRR
Made with FlippingBook - Online catalogs