Curbing Wholesale Petroleum Market Manipulation

Law360, New York (August 17, 2009, 12:50 PM EDT) -- The Federal Trade Commission has issued its long-awaited rule targeting "market manipulation" in wholesale petroleum markets.

With high, daily penalties, the rule is likely to cause petroleum suppliers to develop cautious compliance programs that restrict information disclosed to the market. The final rule becomes effective Nov. 4, 2009.

Under the Energy Independence and Security Act of 2007 (EISA) Congress granted the FTC authority to write and enforce regulations to prohibit "any manipulative or deceptive device or contrivance" in connection with wholesale petroleum transactions.

Passed in part...
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