Opinion
No. 78-742.
January 9, 1979. Rehearing Denied February 14, 1979.
Appeal from the Circuit Court for Dade County, Sam I. Silver, J.
Jim Smith, Atty. Gen. and Leonard L. Elias, Asst. Atty. Gen., for appellants.
Burnett Roth, Miami Beach, for appellees.
Before PEARSON, BARKDULL and HUBBART, JJ.
The trial court held that Title 7, Section 6a, U.S. Code Annotated, creating the Commodities Futures Trading Commission, awarded exclusive jurisdiction to this Federal agency to conduct investigations of interstate commodity transactions. With this interpretation we agree. International Trading Ltd. v. Bell, 556 S.W.2d 420 (Ark. 1977); State v. Monex International Limited, 527 S.W.2d 804 (Tex.Civ.App. 1975); Clayton Brokerage Company of St. Louis, Inc. v. Mouer, 531 S.W.2d 805 (Tex. 1975); Securities and Exchange Commission v. American Commodity Exchange, Inc., 546 F.2d 1361 (10th Cir. 1976).
The State of Florida, through its appropriate officials has the power to investigate and prosecute intrastate commodity transactions, which may be fraudulent as to its citizens.
Therefore, the final judgment under review be and the same is hereby affirmed.