During the past two months, the Commodity Futures Trading Commission (“CFTC”) announced rules, statutory interpretations, proposed rules, interim final rules, no action letters, orders and proposed orders, all of which will dramatically affect the energy industry.
In addition, in response to industry concern about compliance with the impending CFTC rules, the International Swaps and Derivatives Association (ISDA) and the Intercontinental Exchange (ICE) have announced major initiatives.
Barring further CFTC action, we are now headed directly toward significant changes in the way in which the energy industry will execute energy commodities and derivatives transactions, and conduct ongoing operations, beginning in mid-October 2012. Below is a brief description of 10 of these announcements or events which may affect your business and your business plans.
Please see full Alert below for further information.
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