FERC Enforcement Director Calls for Legislative Fix to Address Hunter Decision

On January 15, 2014, Mr. Norman Bay, Director of the Office of Enforcement at the Federal Energy Regulatory Commission (FERC), testified at a Senate Banking Subcommittee on Financial Institutions and Consumer Protection hearing entitled “Regulating Financial Holding Companies and Physical Commodities.”  Mr. Bay’s testimony focused on FERC’s anti-fraud and manipulation oversight with respect to financial institutions trading in FERC-jurisdictional electric and natural gas markets.  Mr. Bay’s prepared remarks and testimony provide an interesting insight into FERC’s enforcement regime.  Notably, Mr. Bay called for a legislative fix to address FERC’s enforcement authority in light of the recent Hunter v. FERC decision.  read more

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