JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries
FERC: A Discussion on its Mission, Market Manipulation Investigations, and Common Violations
The Federal Energy Regulatory Commission (FERC) announced on February 22 that its Office of Enforcement would examine wholesale natural gas and electricity market activity during last week’s extreme cold weather ...more
Uneconomic trading in regulated markets is a key focus of market regulators such as the DOJ, SEC, CFTC and FERC. Traders at times, for example, take different positions in select markets which can result in losses in one...more
This is the eighth issue of WilmerHale’s 10-in-10 Hot Topics in Energy Series. Over the course of 10 weeks, our attorneys will share insights on current and emerging issues affecting the US energy sector. ...more
• The CFTC has filed a new “insider trading” enforcement action involving the energy markets—the agency’s third energy market insider trading case since 2015. • The CFTC also created an Insider Trading and Information...more
This is the third issue of WilmerHale’s 8-in-8 Recent Trends in European Law and Policy Alert Series. In this series, our attorneys share insights on current and emerging issues affecting companies doing business in Europe...more
• On November 16, 2017, the Federal Energy Regulatory Commission released its 11th annual Report on Enforcement, detailing the agency’s Enforcement activities in 2017. • Key highlights are that Enforcement priorities were...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
In remarks before the International Futures Industry Conference, Acting Chairman J. Christopher Giancarlo—who was just nominated by President Trump to be permanent Chairman—talked about the future of the Commodity Futures...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
Skadden’s Energy Regulation and Litigation Group is pleased to provide the fourth edition of the Skadden Energy Law Handbook, which includes a summary of recent developments. The handbook contains 16 chapters covering a broad...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 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
On July 11, 2016, the Federal Energy Regulatory Commission (FERC or “Commission”) issued an order affirming an Administrative Law Judge’s (ALJ) Initial Decision finding that BP America (“BP”) and certain affiliated entities...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 April 28, 2016, FERC issued an order directing Total Gas & Power North America, Inc. (Total Gas), two of its traders, its ultimate corporate parent, Total S.A. (Total) and an affiliate Total Gas & Power, LTD (TGPL) to show...more
Skadden’s Energy Regulatory and Litigation Group is pleased to provide the third edition of the Skadden Energy Law Handbook. This edition includes updates on recent developments, as well as a summary of those developments....more
The Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission’s (FERC) 2015 enforcement reports reveal one agency – the CFTC – imposing record fines, with the other – FERC – continuing its...more
The Federal Energy Regulatory Commission (FERC) has proposed requiring the operators of centralized wholesale power markets to collect and provide to FERC a broad range of market participant data, including (i) each market...more
A Federal Energy Regulatory Commission (FERC) Administrative Law Judge last week issued an Initial Decision finding that BP America (BP) and certain related BP entities violated FERC’s Anti-Manipulation Rule. Following 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
On January 15, 2014, Mr. Norman Bay, Director of the Office of Enforcement at the Federal Energy Regulatory Commission (FERC), testified at a Senate Banking Subcommittee on Financial Institutions and Consumer Protection...more
The Federal Energy Regulatory Commission (“FERC”) has initiated investigations into energy market manipulation in the last two years that have resulted in nearly $1 billion in penalties and profit disgorgements from companies...more