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Past Event
3 October 2007

Webinar: CFTC, FERC and Banking Agency Oversight of OTC Energy Markets and Participants:

CFTC, FERC and Banking Agency Oversight of OTC Energy Markets and Participants: Recent Developments Affecting Financial Institutions

October 3, 2007

David I. Bloomÿ - Partner - Washington, DC
Lisa A. Dunsky
Marshall E. Hanbury - Partner - Chicago
David R. Sahr - Partner - Washington, DC

Participants in the financial derivatives markets for natural gas, power, crude oil and other energy commodities face increasing regulatory surveillance and oversight by federal regulators. The Commodity Futures Trading Commission has demonstrated its intent and authority to police energy trading in over-the-counter physical and financial markets. The Federal Energy Regulatory Commission now has authority to prohibit and punish manipulation in natural gas and power markets by "any entity" including "any person or form of organization, regardless of its legal status, function or activities." Banking regulators, including the Federal Reserve Board, have jurisdiction over the involvement of the growing number of banking institutions in these markets.

Please join us to discuss what financial institutions need to know about developments in this area, including:

  • Recent CFTC and FERC coordinated enforcement activities, including complaints and show cause orders against Amaranth Advisors and Energy Transfer Partners
  • The aftermath of the Levin-Coleman Report on Excessive Speculation in the Natural Gas Market, including proposed legislation and rule amendments, and the CFTC's hearing on regulatory oversight of energy trading on regulated futures exchanges and Exempt Commercial Markets
  • Requirements for FERC approval to acquire interests in the energy sector
  • Bank regulatory requirements that apply to banks and bank holding companies in the U.S. that directly or indirectly participate in energy markets

Related Files
Slides Only (PDF)

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