CFTC, FERC Join Forces To Combat Manipulation

Law360, New York (July 26, 2007, 12:00 AM EDT) -- In a two-pronged effort to stifle market manipulation, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission took on pipeline company Energy Transfer Partners LP Thursday, which they say exploited Hurricane Rita to force down natural gas prices in 2005.

The CFTC filed a complaint against the Dallas-based company and its subsidiaries in the northern Texas district court while FERC slammed it with a show cause order.

According to the CFTC's complaint, Energy Transfer Partners violated the Commodity Exchange Act when it tried to...
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