A recent advisory published by the Commodity Futures Trading Commission’s Division of Enforcement and comments of the division director have highlighted the CFTC’s attention toward investigating potential violations of the Commodity Exchange Act (CEA) that involve foreign corrupt practices.
FERC, CFTC, and State Energy Law Developments
The Federal Energy Regulatory Commission (FERC or the Commission) Office of Enforcement (OE) issued its 2018 Report on Enforcement on November 15. The report provides a review of OE’s activities during fiscal year 2018 (FY 2018), which begins October 1 and ends September 30 annually.
Today, the Federal Energy Regulatory Commission (FERC) Office of Enforcement (OE) issued its 2017 Report on Enforcement. The report provides a review of OE’s activities during fiscal year 2017, which begins October 1 and ends September 30 annually, revealing likely areas of focus for FERC enforcement in the coming year.
This week, FERC submitted its annual financial report to the US Congress. Although part of the regular slate of voluminous reports sent up to Capitol Hill each year, FERC’s report often includes certain nuggets of information useful to the regulated community.
On November 19, 2012, FERC approved a stipulation and settlement agreement with Gila River Power, LLC, in which Gila River admitted to manipulating the California ISO (CAISO) electric market By arranging nonexistent wheeling transactions to artificially reduce congestion on an interface used as a critical import path to the CAISO market.
On January 11, 2012, FERC issued an order approving a settlement relating to allegations that a Senior Vice President of North America Power Partners (NAPP) engaged in fraudulent conduct in violation of FERC’s prohibition against market manipulation and committed violations of the PJM Interconnection, LLC’s (PJM’s) Open Access Transmission Tariff (OATT).
On November 29, 2011, the Federal Energy Regulatory Commission approved a Stipulation and Consent Agreement between the Office of Enforcement (Enforcement) and Holyoke Gas and Electric Department (Holyoke) in which Holyoke stipulated that it failed to report to ISO New England, Inc.
On April 21, 2011, the Federal Energy Regulatory Commission (FERC or Commission) issued a pair of Notices of Proposed Rulemaking (NOPR) designed to facilitate price transparency in markets for the sale and transmission of electric energy in interstate commerce and to enhance market monitoring capabilities.
On October 28, the Federal Energy Regulatory Commission (Commission) issued an order approving a $2.7 million settlement relating to allegations that North America Power Partners (NAPP) engaged in fraudulent conduct in violation of the Commission’s prohibition against market manipulation and committed multiple violations of the PJM Interconnection, LLC’s (PJM) Open Access Transmission Tariff (OATT).
Ten years ago, “transparency” within the natural gas markets was largely an ignored concept.