WASHINGTON — Birmingham Mayor Larry P. Langford and Montgomery, Ala.-based securities dealer William B. Blount argued Friday that they should not be compelled to testify in the Securities and Exchange Commission’s investigation of Jefferson County’s swaps and derivatives as long as the SEC refuses to say if the U.S. Justice Department is conducting a parallel investigation, according to court documents.

Even if a Justice Department probe exists, the SEC does not have jurisdiction over interest rate swaps and derivatives, they argued in separate documents filed Friday with the U.S. District Court for the Southern District of Florida in Miami. They also urged the court to move the case to a federal court in Birmingham, where Langford and Blount work or reside, and where a federal judge, William B. Acker, has already been involved in aspects of the SEC’s investigation.

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