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FERC approved settlement with Twin Cities
  • Bracewell & Giuliani LLP
  • USA
  • December 30 2014

On December 30,2014, the Commission approved four Stipulation and Consent Agreements (Agreements) between the Office of Enforcement (Enforcement) and


Monthly futures exchange issuance report: March 2015
  • Bracewell & Giuliani LLP
  • USA
  • April 2 2015

This report summarizes selected material notices from CME Group and ICE Futures, with a particular focus on energy. It is not intended to a be a


Barclays motion to dismiss raises significant issues about FERC jurisdiction
  • Bracewell & Giuliani LLP
  • USA
  • January 6 2014

After an investigation of actions in the western electricity markets by Barclays Bank PLC ("Barclays"), Daniel Brin, Scott Connelly, Karen Levine


PJM authorized to offer two new demand products in forward capacity market
  • Bracewell & Giuliani LLP
  • USA
  • February 2 2011

This week FERC approved a PJM proposal to establish two new demand resource (DR) products for the PJM forward capacity market, which is conducted under the Reliability Pricing Model (RPM


CFTC seeks input on Dodd-Frank implementation issues affecting energy end-users
  • Bracewell & Giuliani LLP
  • USA
  • April 1 2014

With most of its rules implementing the swap regulatory provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") in


Position limits rule would limit swap positions
  • Bracewell & Giuliani LLP
  • USA
  • January 26 2011

Exercising new authority Congress conferred on it in the Dodd Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), in a January 13 rulemaking proposal the Commodity Futures Trading Commission (CFTC) proposes to impose limit on holdings of certain derivatives, including swaps linked to energy commodity prices


Oil and gas fraud working group to focus on energy markets
  • Bracewell & Giuliani LLP
  • USA
  • April 25 2011

On April 21, 2011, U.S. Attorney General Eric Holder announced the formation of an Oil and Gas Price Fraud Working Group to focus specifically on the detection of fraud in the energy markets


For the first time, a court sanctions disgorgement remedy for Sherman Act violation
  • Bracewell & Giuliani LLP
  • USA
  • February 9 2011

On February 2, 2011, the United States District Court for the Southern District of New York entered a Final Judgment relating to a settlement reached with KeySpan Corporation ("KeySpan") of a Department of Justice ("DOJ") Complaint regarding certain activity allegedly engaged in by KeySpan in the electric generating capacity markets in New York City (the "Order"


Administrative judge decision explores “subjective” parameters of unlawful market manipulation
  • Bracewell & Giuliani LLP
  • USA
  • February 10 2010

Wending its way to FERC on exception (appeal) is Administrative Judge Carmen Cintron's January 22 initial decision finding that lead natural gas trader for hedge fund Amaranth Advisors, Brian Hunter, manipulated the price of New York Mercantile Exchange (NYMEX) natural gas futures contracts in order increase earnings on futures look-alike contracts (primarily swaps) that Amaranth concurrently held on the largely unregulated exchanges, Intercontinental Exchange (ICE) and Clearport, or over-the-counter (OTC


CFTC designates seven ICE natural gas contracts as "significant price discovery contracts," subjecting them to regulatory oversight
  • Bracewell & Giuliani LLP
  • USA
  • April 27 2010

The Commodity Futures Trading Commission (CFTC) voted unanimously on April 27 to designate seven natural gas contracts traded on Intercontinental Exchange Inc. (ICE) as "significant price discovery contracts," or SPDCs