Prompted by a pending action in the US District Court for the Southern District of New York, in which Amaranth Advisors, LLC has challenged the authority of the Federal Energy Regulatory Commission to initiate an administrative proceeding alleging manipulation of natural gas futures prices, the Committee on Agriculture of the U.S. House of Representatives sent a letter to the Commodity Futures Trading Commission, reaffirming the Committee’s view that the CFTC has exclusive jurisdiction over the trading of futures contracts. The September 27 letter, which was signed by the Chairman and Ranking Member of the Committee, commends the CFTC and Federal Energy Regulatory Commission for “work[ing] together to protect the integrity of the energy market.” The letter goes on, however, to state that, ifthe CFTC were to “cede jurisdiction,” it would “abrogate the law, ignore the singular vision that Congress intended for the CFTC and invite those who look to nefariously arbitrage multiple regulatory regimes back to the futures markets.”