JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries
NFA Chairman Chris Hehmeyer Talks Bankruptcy Reform
On June 7, Senator Cynthia Lummis (R-WY) and Senator Kirsten Gillibrand (D-NY) unveiled the long-awaited 69-page draft of the Lummis-Gillibrand Responsible Financial Innovation Act (“Act”). The Act is meant to create a...more
The U.S. District Court in the Southern District of New York recently dismissed a class action lawsuit alleging that Total, S.A., Total Gas & Power North America, Inc., and Total Gas & Power Limited (collectively, “Total”)...more
Federal regulatory agencies, such as the Securities and Exchange Commission (“SEC”), the Commodity Futures Trading Commission (“CFTC”), and the Federal Energy Regulatory Commission (“FERC”), have the authority to impose...more
Incidents of alleged fraud and market manipulation in the energy markets increasingly have received the attention of federal agency enforcement efforts, including the Federal Energy Regulatory Commission (FERC) and the...more
The CFTC quelled a controversy that had emerged regarding its proposed exemption of certain specified energy products transacted in Regional Transmission Organizations (RTO) by doing a “180” on its proposals that otherwise...more
In June, the General Counsel of the Federal Energy Regulatory Commission (FERC) and the Public Utility Commission of Texas (PUCT) submitted comments to the Commodity Futures Trading Commission (CFTC) opposing the CFTC’s...more
In May 2016, the Commodity Futures Trading Commission (CFTC) proposed an amendment to a 2013 order concerning regional transmission organization (RTO) and independent system operator (ISO) organized electric markets that...more
The proposal could create uncertainty for market participants and raise jurisdictional questions about which regulator should police power markets....more
On May 10, 2016, the Commodity Futures Trading Commission (CFTC) proposed to amend a 2013 order (the “RTO-ISO Order”) to allow for private lawsuits to be brought in connection with conduct in organized wholesale electricity...more
Last week the Commodity Futures Trading Commission (CFTC) issued a notice of proposed order and request for comment proposing to allow a private right of action to enforce violations of the anti-manipulation, anti-fraud or...more
With its proposed order issued earlier this week, the Commodity Futures Trading Commission (CFTC) may be making an already complicated landscape governing energy market manipulation even more so. The proposed order (CFTC...more
On May 10, 2016, the Commodity Futures Trading Commission (“CFTC”) proposed an amendment (“Proposed Amendment”) to an order it issued on March 28, 2013 (“RTO-ISO Order”), exempting certain electric energy transactions from a...more
On May 18, the Commodity Futures Trading Commission issued a proposed order in response to an application submitted by Southwest Power Pool, Inc. (SPP) to exempt certain contracts, agreements and transactions for the purchase...more
After a fair amount of back-channel arm-twisting, the two agencies with principal (and sometimes overlapping) jurisdiction over energy commodities have reached agreement on two memoranda of understanding (“MOUs”) required by...more
The U.S. Court of Appeals for the D.C. Circuit decided today that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over all transactions involving commodity futures contracts and that the Federal...more