Oct 182018
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.
Sep 172018
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.
Aug 212017
Energy Enforcement Update
This week’s enforcement update covers:
- FERC and Smith file pleadings on Smith motion for judgment on the pleadings in Barclays case;
- CFTC finds that the Bank of Tokyo-Mitsubishi UFJ, Ltd. engaged in spoofing of Treasury futures and Eurodollar futures – applauds cooperation of the bank;
- Appeals court upholds spoofing conviction against Michael Coscia;
- FERC quorum restored with two new Commissioners;
- Senate unanimously confirms CFTC nominees;
- CFTC orders trader to pay $650,000 civil penalty for spoofing;
- Judge grants motions to dismiss New York ZEC lawsuit; and
- Fifth Circuit denies TOTAL petition for rehearing en banc of declaratory judgment action against FERC.
Jul 242017
Energy Enforcement Update
This week’s enforcement update covers:
- Second Circuit reverses Rabobank LIBOR convictions over forced testimony;
- Judge issues pretrial scheduling order in FERC case against Barclays;
- Judge grants motions to dismiss Illinois ZEC lawsuit;
- Ryan Smith files motion for judgment on the pleadings in Barclays case;
- President Trump nominates Rostin Behnam to serve as CFTC Commissioner;
- President Trump announces intent to nominate Kevin McIntyre as FERC Chairman;
- FERC issues Notice of Alleged Violations against Rover Pipeline and Energy Transfer Partners;
- CFTC files response to Kraft motion to compel; and
- FERC issues Notice of Alleged Violations against American Transmission Company.