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FERC Lightens Compliance Load for Power Traders

In a time of increasing compliance requirements and enhanced regulatory scrutiny of power trading activities, a recent Federal Energy Regulatory Commission (“FERC”) order brought some compliance relief to power traders and...more

2015 IPO Study

In this Issue: - Executive Summary - 2014 Overview - Year-Over-Year Analysis - Health Care - Technology, Media & Telecommunications - Energy & Power - Financial Services - Industrials -...more

Compliance Responses to Economic Downturns: A Focus On The Energy Sector – Part Two

II. Doing Less with Less - The current economic downturn in the energy space seems to follow a pattern, with businesses’ exhibiting predictable Pavlovian responses. When oil prices drop precipitously, companies who are...more

REMIT Registration: What do you need to know?

The EU Regulation on Wholesale Energy Market Integrity and Transparency (REMIT)1 came into force on 28 December 2011. It establishes an insider trading, market manipulation, disclosure, registration and transaction reporting...more

Alabama Supreme Court Affirms Dismissal in Walter Energy

On February 20, 2015, the Alabama Supreme Court affirmed the order of the Circuit Court of Jefferson County, Alabama dismissing claims asserted by Walter Energy, Inc. against investor Julian A. Treger, his firm Audley Capital...more

‘Here We Go Again’: Oil and Gas Sector to Face New Regs in 2015

Tracking regulatory changes in the oil and gas industry is no minor undertaking. After all, when someone speaks of “the oil and gas industry,” that person isn’t simply referencing some narrowly defined zone of activity;...more

Exploration Development Incentive Passes Australian Senate

On 3 March 2015, legislation introducing the Exploration Development Incentive (EDI) officially passed the Australian Senate. The legislation is expected to receive Royal Assent in the coming days. The EDI has been introduced...more

CFTC Advisory Committee Reviews Position Limits Proposal, Reopens Public Comments until March 28, 2015

On February 25, 2015, the Commodity Futures Trading Commission (CFTC or Commission) published a notice that it would reopen the comment period for its previously proposed rule to establish speculative position limits for 28...more

Blog: Will Congress Revisit The Conflict Minerals Rule?

According to a Bloomberg BNA report, a representative of the Chamber of Commerce, one of the plaintiffs in National Association of Manufacturers, Inc. v. SEC, the conflict minerals case currently pending in the DC Circuit,...more

CFTC Reopens Comment Period for Position Limits Proposals

The Commodity Futures Trading Commission has re-opened the comment period on (1) its proposed rules establishing position limits on certain exempt and agricultural commodities and (2) its proposed amendments to its...more

Welcome Tax Measures Announced at the PDAC 2015 Convention

On Sunday March 1, 2015, the Honourable Joe Oliver, Federal Minister of Finance addressed the Prospectors & Developers Association of Canada (“PDAC”) at the annual PDAC Convention in Toronto and announced certain proposals...more

Red Notice Newsletter - February 2015

Introduction - Welcome to the February 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. - This month on the anticorruption front, several companies face the consequences of...more

CFTC Reopens Comment Periods

On February 24, the CFTC submitted for publication in the Federal Register a notice reopening the comment periods for the two Position Limit rulemakings, in anticipation of questions and comments that may arise from the...more

CFTC’s Energy and Environmental Markets Advisory Committee To Hold Meeting

The Commodity Futures Trading Commission’s Energy and Environmental Markets Advisory Committee will hold a meeting on February 26. The meeting, which will focus on the expected impact of the CFTC’s proposed position limit...more

MD&A Lessons Learned from Broadwind Energy

On February 5, 2015, the Securities and Exchange Commission charged Broadwind Energy, Inc. (Broadwind), its former Chief Executive Officer and its Chief Financial Officer for accounting and disclosure violations that, as the...more

Court Finds CFTC RTO/ISO Exemptive Order Bars CEA § 22 Private Right of Action, but More to Come from the CFTC

Can private litigants bring claims under the Commodity Exchange Act alleging manipulation in ERCOT’s energy markets? On February 3, the U.S. District Court for the Southern District of Texas answered “no,” granting...more

Reserves Reports and Asset Write-Downs – Legal Consequences for Public Companies

Summary - - Low oil prices may have a significant impact on reserves reports, financial statements and reserves based credit facilities of oil-weighted energy companies in Canada. How will reserves reports and...more

Asset Manager Hedging Results Fined for Failing to Register as a Commodity Trading Advisor

On January 16, 2015, the Commodity Futures Trading Commission (CFTC) fined an asset manager, using financial instruments to hedge its clients’ risk, for failing to register as a Commodity Trading Advisor (CTA). See Summit...more

FERC Issues Order to Show Cause and Notice of Proposed Penalty for Alleged Market Manipulation in New England

On February 2, 2015, the Federal Energy Regulatory Commission (FERC) issued an Order to Show Cause and Notice of Proposed Penalty (Show Cause Order) directing Calgary-based Maxim Power Corporation and certain of its...more

Unregistered CTA Summit Energy Services: Choose Your Words Wisely

A recent case highlights the importance of periodically reviewing an energy company's marketing materials and related activities (including statements made on websites) to ensure that the company is not holding itself out --...more

Quarterly Investment Update – 4th Quarter 2014

Welcome 2015! We are coming off a solid economic performance in 2014 marked by improvements in hiring, wages and corporate investments. It has been a magnificent year for both the stock and bond markets, even with a...more

CFTC Issues Enforcement Order Regarding "Risk Management" Services and CTA Registration

On, January 16, the CFTC ordered Summit Energy Services, Inc. ("Summit Energy") to pay a $140,000 civil penalty to resolve allegations that it violated the Commodity Exchange Act ("CEA") by failing to register as a commodity...more

Inside M&A - Winter 2015

Recent U.S. Cases Highlight Liability Risks to Executives in Mining, Heavy Industrial Transactions - Historically, corporate executives rarely faced personal or criminal liability resulting from mining or environmental...more

Consultation Draft Rules Issued by the China Securities Regulatory Commission Regarding Foreign Investment in Futures Contracts

The China Securities Regulatory Commission (CSRC) has issued draft rules for consultation purposes relating to the proposed investment by foreign investors and dealing by foreign brokerages in futures contracts in the...more

China Regulator Proposes to Permit Designated Domestic Futures Contracts to be Traded by Foreigners

The China Securities Regulatory Commission (CSRC) is soliciting public comment on proposed rules (Interim Measures) that would open Chinese futures markets to direct trading by non-Chinese persons apparently for both...more

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