U.S. Futures Exchanges Disciplinary Actions Report - February 2017

NYMEX NYMEX 16-0600 Misc . Rules 413 – Summary Access Denial Actions (in part) and 413.A – Authority to Deny Access. On January 5, 2017, CME Group’s Market Regulation Department summarily denied a member’s direct and indirect access to the CME Globex electronic trading platform for purposes of trading or entering Trading at Settlement (“TAS”) orders in any product. The summary access denial prohibited the member, or anyone on behalf of the member, from trading TAS, placing TAS orders, and controlling or directing TAS trading for any person, entity, or account in any CME Group exchange product...

Another Win for Respondents’ Rights: District Court Opines on the Scope of De Novo Review

On March 8, 2017, the U.S. District Court for the Eastern District of California issued an order affirming that ETRACOM LLC and its owner (the “Respondents”) are entitled to a full trial on the merits and discovery rights in an action brought by the Federal Energy Regulatory Commission (“FERC” or the “Commission”) seeking to enforce an order assessing civil penalties against the Respondents for alleged market manipulation in the California energy market. The primary issue at stake was the meaning of the Federal Power Act’s (“FPA”) reference to “ de novo review” in a civil action brought by...

EPA Withdraws Oil and Gas Information Collection Request

On March 2, 2017, new EPA Administrator Scott Pruitt made it clear that he will follow through on President Trump's promise to reduce regulatory burdens by withdrawing the Information Collection Request (ICR) that the Obama EPA issued last November to force the oil and natural gas industry to produce substantial amounts of detailed information about methane emissions from existing oil and gas operations. Although this action has long been expected, it is another signal that the Trump Administration will not be pursuing an aggressive climate change agenda. The November 2016 ICR was aimed at...

Bracewell Partners Named in 2017 Who's Who in MENAT Renewables

Bracewell LLP Partners Clint Steyn and Robert Harker were recently named to the 2017 list of Who's Who in MENAT Renewables . This list annually recognizes 250 key players working in the renewable energy sector in the Middle East, North Africa and Turkey. Steyn and Harker, both based in Bracewell's Dubai office, have advised on many of the leading renewable energy projects in the MENAT region. Their experienc includes advising clients in the acquisition, development and project financing of power projects in the regions including key markets such as Jordan, Dubai, Abu Dhabi, Kuwait and Egypt...