Category Archives: Commodity Trading

ACER 2014 REMIT Report Confirms Continued Inquiries into Market Conduct

By Doron Ezickson and Adam Topping ACER calls for substantial funding increase to enable more aggressive monitoring and enforcement efforts in coordination with national regulators. On Tuesday 10 June 2014, the Agency for the Cooperation of Energy Regulators (“ACER”) published its annual … Continue reading

Posted in Commodity Trading, Oil & Gas, Power, Regulation, REMIT

FERC Orders Evidentiary Hearing for Alleged Market Manipulation by BP

By Christopher Polito and Paul Pantano On May 15, 2014, the Federal Energy Regulatory Commission (FERC) issued an order setting an evidentiary hearing before an administrative law judge (ALJ) to determine whether BP America Inc., BP Corporation North America Inc., BP America … Continue reading

Posted in Commodity Trading, Enforcement and Investigations, FERC, Oil & Gas, Regulation

SAVE THE DATE: 2014 Energy & Commodities Regulation, Compliance and Enforcement Conference

Cadwalader, Wickersham & Taft LLP will be hosting its annual Energy & Commodities Conference in Houston, Texas. The program will feature informative presentations and panel discussions on the evolving regulatory and enforcement issues affecting the U.S. and international energy and … Continue reading

Posted in CFTC, Commodity Trading, CSAPR, Dodd-Frank, DOJ, EMIR, Emissions, Enforcement and Investigations, EPA, ERCOT, Events, FERC, FTC, MiFID, MiFIR, Mining/Metals, Oil & Gas, Power, PUCT, Regulation, Renewables, SEC

EMIR Clearing and Margin Consultation Paper Proposes Rules Which Will Impose Substantial Trading Costs on Market Participants

By Doron Ezickson, Nick Shiren, Assia Damianova, and Adam Topping The European Market Infrastructure Regulation (“EMIR”) imposes a number of risk mitigation techniques on counterparties to uncleared swaps.  Some of those involve much tighter operational procedures (such as the rules for timely confirmations, portfolio … Continue reading

Posted in Commodity Trading, EMIR, 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

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

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

Presentation Materials: Examining the Newly Revised CFTC Position Limits Rule

Cadwalader, Wickersham & Taft LLP hosted a webinar program on Wednesday, November 13, to address the proposed new position limits rule and how it will affect market participants. Click here to download the presentation materials.  An audio recording is available … Continue reading

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

CFTC Approves Position Limits Proposals

At its open meeting on November, 5, the U.S. Commodity Futures Trading Commission (CFTC) approved two Position Limits Proposals. With a 3-1 vote, the Commissioners approved Proposed Regulation on Position Limits for Derivatives. With a unanimous vote, the Commission also … Continue reading

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