Author Archives: Cadwalader

Proposed FERC Rule Marks Significant Shift in Approach Toward Inter-Affiliate Service Agreements

By Ken Irvin, Anna Biegelsen, Ryan Norfolk, Katrina Olsen and Katherine Vorhis In a March 20, 2014, Notice of Proposed Rulemaking (Proposed Rule), the Federal Energy Regulatory Commission (FERC) proposed, among other things, a requirement that all interstate pipelines offer … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

Final CFTC Rule – Swap Data Repositories: Access to SDR Data by Market Participants

The U.S. Commodity Futures Trading Commission is adopting an interim final rule to  clarify the scope of permissible access by market participants to swap data and information maintained by a registered swap data repository (‘‘SDR’’). Specifically, the interim final rule … Continue reading

Posted in CFTC, Commodity Trading, Mining/Metals, Oil & Gas, Power, Regulation

Notice of Proposed FERC Rulemaking: Coordination of the Scheduling Processes of Interstate Natural Gas Pipelines and Public Utilities

By Ken Irvin, Katrina Olsen, and Katherine Vorhis On March 20, 2014, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (Proposed Rule) that, if adopted, will effectively require interstate natural gas pipelines to change their scheduling … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation, Uncategorized

Third Circuit Upholds FERC Orders on PJM MOPR Revisions

By Ken Irvin and Ryan Norfolk Recently, the U.S. Court of Appeals for the Third Circuit upheld FERC’s 2011 orders accepting revisions to PJM’s Minimum Offer Price Rule (“MOPR”) that, among other things, removed the mitigation exemption for resources being … Continue reading

Posted in Cases, FERC, PJM, Power, Regulation

Lyondell Bankruptcy Court Holds That Safe Harbors Do Not Prohibit Creditors From Asserting State Law Constructive Fraudulent Transfer Claims

On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. … Continue reading

Posted in Cases, Distressed Energy, Mining/Metals, Oil & Gas, Power

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 … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

Markets in Financial Instruments Directive: Agreement in Principle on Revised European Rules

On 14 January 2014 the European Parliament, the Council and the Commission reached a high-level agreement in principle on updating the rules for the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR).  Further technical issues that remain … Continue reading

Posted in Commodity Trading, Enforcement and Investigations, MiFID, MiFIR, Oil & Gas, Power

FERC and CFTC Reach Agreement on Information Sharing and Jurisdiction

After a fair amount of back-channel arm-twisting, the two agencies with principal (and sometimes overlapping) jurisdiction over energy commodities have reached agreement on two memoranda of understanding (“MOUs”) required by the Dodd-Frank Act.  On January 2, 2014, the Federal Energy … Continue reading

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

The Volcker Rule’s Impact on Foreign Banking Organizations

On Tuesday, December 10, 2013, the three federal banking agencies – the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation – as well as the Securities … Continue reading

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

The Volcker Rule’s Impact on Banking Entities’ Ownership and Sponsorship of Structured Finance and Securitization Transactions

On December 10, 2013, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission and the Commodity Futures Trading Commission released the long-awaited … Continue reading

Posted in CFTC, Commodity Trading, Dodd-Frank, Mining/Metals, Oil & Gas, Power, Regulation, SEC