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Potential Regulatory Gaps In Energy Trading

Law360 (March 20, 2009, 12:00 AM EDT) -- Repeal of the Glass-Steagall Act without commensurate adjustments in regulatory oversight by the various affected regulators may have contributed to the current economic disruptions we are experiencing.

The failure to adjust the regulatory system to reflect changes in the regulated markets created gaps among the jurisdiction and authority of regulators. Systemic hazards arose as the regulatory schema lagged behind the sophistication and complications of the markets and market players.

Similarly, the multiple ongoing cases involving the hedge fund Amaranth Advisors LLC[1], which spectacularly collapsed in 2007...
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