CFTC Challenges FERC's Authority To Fine Gas Trader $30M

Law360, New York (April 26, 2012, 6:49 PM EDT) -- The U.S. Commodity Futures Trading Commission on Wednesday challenged in the D.C. Circuit a $30 million fine the Federal Energy Regulatory Commission imposed on an ex-trader for allegedly manipulating the natural gas futures market, saying FERC was stepping into its jurisdiction.

FERC has no authority to impose the fine on former Amaranth Advisors LLC trader Brian Hunter for allegedly dumping contracts in an effort to depress natural gas prices on the New York Mercantile Exchange because trading on that exchange is regulated by the CFTC, the...
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