FERC’s Crackdown on Banks and Financial Institutions in 2015
The U.S. Federal Energy Regulatory Commission (FERC) Office of Enforcement has been aggressive, especially against alleged market manipulation by banks and those in the energy and gas markets, and has opened 17 new investigations in 2014. More than half of those were surveillance division observations or from power grid operator market monitors. The biggest recent lawsuit against Barclays Bank Plc, was based upon allegations of power market manipulation. Barclays denies any wrong-doing.
In this two hour, live webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will discuss the FERC’s Crackdown on Banks and Financial Institutions in 2015. The panel also aims to help the audience better understand the importance of due diligence against fraud and market manipulation by bank and other officers and officials.
Key topics include:
- FERC Anti-Fraud and Manipulation
- FERC Enforcement Regime
- FERC Anti-Fraud and Manipulation Rule
- Hunter v. FERC Decision – An Insight
- Prohibition on Fraud and Market Manipulation
- Effects of Physical Transactions on Financial Institutions
- Regulatory Limitations in FERC Anti-Fraud and Manipulation
- Due Diligence
- Compliance and Litigation Risks
Morgan, Lewis & Bockius LLP
- Introductory speaker – what is rule, how’d we get it, how has it evolved
- Who it regulates and why
- Crackdown targets
- Current debate on how much advance notice FERC has to provide
Hogan Lovells US LLP
- What is market manipulation?
- Procedural mechanisms and due process issues raised
- Cases involving Barclays, BP, Paladin, Hunter
- Fixing market flaws rather penalizing people following market forces
Who Should Attend:
- Banking and Finance Lawyers
- Financial Executives
- Banks Executives and Directors
- Banking and Finance Advisers
- Chief Financial Officers
- Bank and Financial Professionals
- Bank and Financial Institutions
- Other Related/Interested Professionals and Organizations
Mark R. Haskell is a partner in Morgan Lewis's Energy Practice. Mr. Haskell's practice focuses on Federal Energy Regulatory Commission (FERC) matters, including FERC investigations, litigation and related court appeals, as well as Commodity Futures Trading Commission (CFTC) investigations affecting the energy industry. A seasoned energy lawyer, Mr. Haskell represents natural gas, crude oil, NGL and power trading companies, local distribution companies, end users, producers, and LNG and shale gas project developers in energy regulatory matters.
Mark R. Haskell is a partner in Morgan Lewis's Energy Practice. Mr. Haskell's practice focuses on Federal Energy Regulatory Commission …
Christopher Schindler represents diverse clients in the energy industry, among them natural gas producers, energy marketers and traders, LNG developers, storage companies, natural gas, oil, and products pipelines, LDCs, electric utilities, and other industry participants that are impacted by federal and state regulation of energy.
He advises energy marketers, energy trading firms on a full range of regulatory compliance matters before the Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC). He routinely counsels clients on issues relating to the physical and financial commodity and derivatives markets and helps develop strategies to successfully navigate the complex regulatory reforms created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. He regularly assists clients in the development of comprehensive compliance programs and represents clients in both public and non-public investigations and enforcement actions before FERC and the CFTC. Christopher is a frequent speaker on energy regulation and has lectured at both the Duke University School of Law and The George Washington University Law School.
Christopher Schindler represents diverse clients in the energy industry, among them natural gas producers, energy marketers and traders, LNG developers, …
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About Morgan, Lewis & Bockius LLP
Morgan Lewis’s Oil and Gas Practice offers customized, interdisciplinary legal representation designed to address each client’s specific needs as efficiently and cost-effectively as possible. Morgan Lewis represents its oil and gas clients before government agencies including the Federal Energy Regulatory Commission (FERC), the U.S. Department of Energy (DOE), and the U.S. Commodity Futures Trading Commission (CFTC).
We work with clients to develop innovative business solutions to ongoing challenges in natural gas regulation. Our practice includes all aspects of FERC and DOE regulation, including advice on regulatory compliance for all natural gas market participants, investigations and enforcement, certification of new facilities, representation of shippers in pipeline rate cases, ratemaking, tariff design, exports and imports of natural gas and LNG, and both trial and appellate litigation under the Natural Gas Act.
Morgan Lewis has long played an active role in addressing broad policy issues before the FERC. Our team is skilled in alternative dispute resolution and takes a leading role in multiparty settlements through informal and structured negotiations. We regularly monitor FERC’s agenda and orders, advising clients of new developments that affect their operations. We also have represented numerous natural gas industry participants in CFTC matters regarding compliance with commodity trading activities.
Regulatory Compliance, Investigations, and Enforcement
Morgan Lewis has one of the country’s preeminent compliance and investigation practices. Our attorneys regularly conduct internal audits of regulatory compliance programs, assist clients in developing internal regulatory compliance programs, and successfully advise and represent clients in formal and informal investigations and audits conducted by the FERC’s Office of Enforcement (OE) and the CFTC’s Division of Enforcement.
About Hogan Lovells US LLP
Businesses operating in the energy sector must navigate an increasingly complex regulatory landscape in order to function effectively. Rather than allowing the regulatory process to drive business decisions, Hogan Lovells helps develop creative and innovative regulatory strategies that achieve client objectives while minimizing regulatory risk. Drawing on experience working in highest levels of government and a wealth of experience representing both regulated entities and their customers, we offer a unique perspective that we use to anticipate and resolve issues on behalf of our clients. Hogan Lovells handles the full range of energy regulatory matters around the world, including rate and tariff matters, administrative hearings, appellate litigation, reliability standards, enforcement actions, compliance planning and training, certificates and authorizations, industry restructurings, and corporate and finance activities. Our services on the oil and gas and the electric sides of the practice are ranked by Chambers USA, especially in regard to "work before the FERC and the CFTC into market manipulation, reliability, trading improprieties and asset management" as well as "high-quality advice to clients on project development, M&A, trading, and traditional regulatory matters including rate, tariff, and certificate matters."