Energy Enforcement Update

This week’s enforcement update covers:

  • CFTC announces Insider Trading & Information Protection Task Force;
  • FERC approves settlement with Wheelabrator Technologies Inc. related to capacity payments;
  • Second Circuit upholds New York zero emission credits for nuclear facilities;
  • Petrobras pays over $1.7 billion to settle corruption charges with U.S. and Brazilian authorities;
  • Judge denies Powhatan and Chen motion to dismiss on statute of limitations grounds;
  • CFTC finds Mizuho Bank, Ltd. engaged in spoofing of Treasury futures and Eurodollar futures;
  • CFTC finds that proprietary trading firm Geneva Trading USA, LLC engaged in spoofing;
  • FERC Enforcement requests that Commission vacate Order to Show Cause to Footprint; and
  • CFTC orders futures trader and trading firm to pay $2.3 million in penalties for spoofing and manipulative scheme.

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Sidley Environmental Trends

Topics discussed this week include

  • EPA proposes rescinding Obama-era leak repair provisions for appliances using substitute refrigerants.
  • BLM releases revised 2016 Methane and Waste Prevention Rule.
  • EPA denies petitions by Delaware and Connecticut on cross-state emissions.
  • D.C. Circuit upholds decision to vacate 2008 ozone NAAQS implementation rule.

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Energy Enforcement Update

This week’s enforcement update covers:

  • Commodity Trading Adviser (CTA) violation settled with CFTC;
  • CFTC and Kraft file motions for summary judgment;
  • CFTC files 12 enforcement actions addressing registration, position limits, recordkeeping, supervision and reporting;
  • Seventh Circuit upholds Illinois zero emissions credits for nuclear facilities;
  • Judge denies class action lawsuit alleging antitrust violations in New England gas market;
  • CFTC Staff issues report on impact of U.S. tight oil on NYMEX WTI futures contract;
  • CFTC orders BNP Paribas to pay $90 million penalty for attempted manipulation and false reporting of U.S. Dollar ISDAFIX benchmark swap rates; and
  • FERC issues notice of intent to revoke MBR authority to five entities for failure to file EQRs.

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Sidley Environmental Trends

Topics discussed this week include:

  • EPA proposes Clean Power Plan replacement rule
  • Court issues nationwide injunction enjoining EPA delay of effective date of Obama administration’s “Waters of the United States” Rule effectively reinstating the Rule in 26 states
  • D.C. Circuit invalidates EPA’s delay of Obama administration Risk Management Plan Rule
  • Montana judge orders State Department to supplement environmental analysis for Keystone XL Pipeline

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U.S. EPA and DOJ Bring Criminal Prosecution for Tampering with On-Board Diagnostic Systems on Vehicles

Earlier this summer, the Department of Justice (DOJ) and Environmental Protection Agency’s (EPA) criminal office announced criminal charges against employees of an oil and gas operation for tampering with and disabling pollution controls and on-board diagnostic (OBD) systems on the company’s truck fleet. DOJ and EPA charged five employees of Rockwater Northeast LLC, a company that services the hydraulic fracturing industry, for modifying emission control and OBD systems on approximately 30 of the company’s heavy-duty diesel trucks.

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