The CFTC has filed a new “insider trading” enforcement action involving the energy markets
CFTC
CFTC Brings Energy Market Insider Trading Case, Announces Insider Trading Task Force
By Peter Altman, David Applebaum & Michael Asaro | Akin Gump Strauss Hauer & Feld LLPSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Senators Send SEC, EPA, Letter On Renewable Fuel Credit Market
By KATHLEEN M. ROBERTS | BERGESON & CAMPBELL, P.C.
Senator Elizabeth Warren (D-MA), along with seven additional Democratic Senators, sent a letter to the SEC, the EPA, and the CFTC requesting an investigation into the activities of Carl Icahn for potential insider trading, market manipulation, and other securities and commodities law violations in the renewable fuel credit market.
Transportation Department acts on safety issues regarding crude and ethanol shipped by rail. The US Department of Transportation on April 17 issued regulatory changes it believes will address “some of the issues identified in recent train accidents involving crude oil and ethanol shipped by rail”.
Energy Bulletin (US)
By Robert Alessi, Robert Gruendel | DLA Piper
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
Energy Industry News And Trends
By Robert Gruendel | DLA Piper
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
Energy Quote of the Day: ‘Commission Cannot Effectively Oversee Today’s Automated Markets’
By Jared Anderson
Scott O’Malia, a member of the Commodity Futures Trading Commission, said in a recent speech that the commission lacks the technology necessary to effectively track communications between traders and futures exchanges operated by CME Group Inc. and IntercontinentalExchange Group Inc., where a bulk of the world’s oil and natural gas contracts are bought and sold.… Keep reading →
FERC, CFTC Agreement Finally Inked
By Daniel A. Mullen, Michael A. Yuffee, J. Peter Ripley
The recent memoranda of understanding (“MOUs”) entered between the Federal Energy Regulatory Commission (“FERC”) and the Commodity Futures Trading Commission (”CFTC”) made significant progress towards alleviating the long-time tension between the two agencies. On January 2, 2014, the FERC and the CFTC signed two MOUs on jurisdiction (“Jurisdiction MOU”) and information sharing (“Information Sharing MOU”)… Keep reading →
A high frequency energy trading firm is being charged by federal regulators Monday with manipulating markets through “spoofing,” an increasingly frequent scheme in which false bids are submitted and then pulled back, the Commodities Futures Trading Commission said. The civil action against Panther Energy Trading of Red Bank, N.J., and owner Michael J. Coscia, is… Keep reading →
If you trade an energy product over the counter rather than on an exchange, you probably need to get yourself a CICI number by Wednesday (April 10). That’s the deadline the Commodity Futures Trading Commission has set up for firms that haven’t been exempted from reporting information on their “swaps” activity to the government as part of the lengthy and complex implementation of the Dodd Frank financial sector reform.
Because the government just loves a good acronym, CICI stands for “CTFC Interim Compliant Identifier” that results in an “LEI” or a “legal entity identifier” for the purposed of reporting details of energy swaps trade and counterparties. The CFTC, concerned that some would miss the deadline, issued an advisory with much more information here. Keep reading →
