FERC Hits Gas Trader With $30M Penalty

Law360, New York (April 21, 2011, 3:02 PM EDT) -- The Federal Energy Regulatory Commission ruled Thursday that former Amaranth Advisors LLC natural gas trader Brian Hunter violated the agency’s anti-manipulation rules and must pay a $30 million civil penalty.

The ruling upholds the January 2010 initial decision of FERC Administrative Law Judge Carmen A. Cintron that Hunter violated the commission’s rules.

The case marks the first fully litigated proceeding involving the commission’s enhanced enforcement authority under laws put in place by the Energy Policy Act of 2005, which prohibits manipulation, FERC said, and should serve...
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