Yearly Archives: 2012

Commodities Now: Washington – We Have a Problem

June 2012 offered the first serious insight into how international regulators intended to apply their new derivatives regulatory regimes to cross-border issues. On 29th June 2012, the Commodity Futures Trading Commission (CFTC) published its proposed guidance on the extraterritorial application … Continue reading

Posted in Articles, CFTC, Commodity Trading, Dodd-Frank, EMIR, MiFID, MiFIR, Oil & Gas, Power, Regulation

Final Rule – Adaptation of Regulations To Incorporate Swaps: Records of Transactions

The Dodd-Frank Wall Street Reform and Consumer Protection Act established a comprehensive new statutory framework for swaps and security-based swaps. This final rulemaking, made by the U.S. Commodity Futures Trading Commission, makes certain conforming amendments to recordkeeping provisions of regulations … Continue reading

Posted in CFTC, Dodd-Frank, Oil & Gas, Power, Regulation

Caution on CFTC Requirement on Tape Recording

On December 17, 2012, the Commodity Futures Trading Commission (CFTC) voted to amend Rules 1.31 and 1.35 to require recording of certain oral communications that lead to the execution of a transaction in a “commodity interest” by certain CEA-registered persons. … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Oil & Gas, Power, Regulation

Final Rule – Clearing Requirement Determination Under Section 2(h) of the CEA

The Commodity Futures Trading Commission is adopting regulations to establish a clearing requirement under new section 2(h)(1)(A) of the Commodity Exchange Act, enacted under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act: 17 CFR Parts 39 … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Oil & Gas, Power, Regulation

ERCOT Reports Improved Capacity Reserve Margin (Still Below Target)

ERCOT issued its Capacity, Demand and Reserves (CDR) report yesterday, which shows improved capacity reserve margins for 2013 and beyond.  The CDR predicts a 13.2 percent reserve margin for summer 2013 (a slight drop) and 10.9 percent by 2014.  The … Continue reading

Posted in ERCOT, Power, Regulation

Inside FERC: Crippling Regulatory Uncertainty, Overstepping Seen in Recent FERC Enforcement Actions

The recent spate of high-profile enforcement actions has market players and industry  observers worried that FERC may be overstepping its statutory boundaries in a way that threatens the very health of energy trade. Regulatory uncertainty is another growing concern in … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

Cadwalader Recognized by Financial Times Innovative Lawyers for Work on Prominent Energy Deals

Cadwalader again ranked among the top 25 Most Innovative Law Firms in the annual Financial Times US Innovative Lawyers report released today. Cadwalader was highly commended in Energy for advising American Renewables on one of the largest biomass financings, the … Continue reading

Posted in Announcement, Distressed Energy, Energy Infrastructure, Finance, Oil & Gas, Power, Renewables

First Ever Admission of Violation in FERC Manipulation Action

On November 19, 2012, FERC approved a settlement agreement between its Office of Enforcement and Gila River Power LLC (“Gila River”) addressing market manipulation claims related to activity in California.  As part of the settlement agreement, Gila River admits to … Continue reading

Posted in Cases, Enforcement and Investigations, FERC, Power, Regulation

Revisions to CFTC Cross Border Guidance Discussed by Global Regulators at GMAC Meeting

By Doron Ezickson and Adam Topping The U.S. Commodity Futures Trading Commission (CFTC) is considering revised staff proposals relating to the definition of “U.S. Person”, the availability of “substituted compliance” and the cross border aggregation of swaps, each modifying the … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Regulation

Final Rule – Adaptation of Regulations To Incorporate Swaps

The Dodd-Frank Wall Street Reform and Consumer Protection Act established a comprehensive new statutory framework for swaps and security-based swaps. The U.S. Commodity Futures Trading Commission is making a number of conforming amendments to integrate the CFTC’s regulations more fully … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Oil & Gas, Power, Regulation