Energy Trading Compliance

Thursday, January 29, 2009

About

Heightened scrutiny, stepped-up enforcement and changing standards....Is your energy trading compliance program keeping pace with the changing market realities?

Compliance, investigations and enforcement are heating up rapidly for companies that trade energy. With FERC now conducting in-depth compliance inquiries, the pressure has intensified as FERC has ordered investigated companies to spend specified amounts of money on compliance programs – usually in the $1M to $2M range. Cooperation between FERC and the CFTC is on the rise as they increasingly investigate commodities trading. Congress recently enhanced the CFTC’s civil penalty authority on market manipulation, and provided it with authority to focus on “significant price discovery contracts” on exchanges like ICE in an attempt to close the so-called “Enron loophole”. And now the new player – the FTC – is seeking anti-manipulation authority, particularly relevant for those in the oilpatch who have only had minimal oversight by FERC to date.

With increased oversight and enforcement actions, larger penalties, recent
litigation over alleged non-compliance, and multiple regulators, ensuring you
are covering all the bases in your company’s compliance programs has taken on an unprecedented importance.

ACI’s Energy Trading Compliance Conference provides a one-of-a-kind forum
for energy firms, traders and their advisors to convene and get the practical answers you need for managing compliance challenges in a time of uncertainty and rapid change. Attend and gain critical information on:

  • FERC’s implementation of real-time monitoring in connection with futures activity: how does FERC’s increasing presence in the futures arena affect CFTC oversight?
  • Market manipulation, OATT violations, capacity release shipper-must-have-title, FPA section 203, MBRs: where regulator activity is focused most now?
  • Drawing the line between legitimate risk-taking and price setting vs. market manipulation
  • Assessing your organizational structure and communications between merchant and transmission employees for risk of violating standards of conduct
  • Self-reporting when you find a violation: how do you assess the risks and benefits?

Don’t miss this opportunity to learn about new and developing compliance initiatives and benchmark your compliance efforts and programs against those of your peers. Spaces will go quickly so register now.

Contents & Contributors

About

Heightened scrutiny, stepped-up enforcement and changing standards....Is your energy trading compliance program keeping pace with the changing market realities?

Compliance, investigations and enforcement are heating up rapidly for companies that trade energy. With FERC now conducting in-depth compliance inquiries, the pressure has intensified as FERC has ordered investigated companies to spend specified amounts of money on compliance programs – usually in the $1M to $2M range. Cooperation between FERC and the CFTC is on the rise as they increasingly investigate commodities trading. Congress recently enhanced the CFTC’s civil penalty authority on market manipulation, and provided it with authority to focus on “significant price discovery contracts” on exchanges like ICE in an attempt to close the so-called “Enron loophole”. And now the new player – the FTC – is seeking anti-manipulation authority, particularly relevant for those in the oilpatch who have only had minimal oversight by FERC to date.

With increased oversight and enforcement actions, larger penalties, recent
litigation over alleged non-compliance, and multiple regulators, ensuring you
are covering all the bases in your company’s compliance programs has taken on an unprecedented importance.

ACI’s Energy Trading Compliance Conference provides a one-of-a-kind forum
for energy firms, traders and their advisors to convene and get the practical answers you need for managing compliance challenges in a time of uncertainty and rapid change. Attend and gain critical information on:

  • FERC’s implementation of real-time monitoring in connection with futures activity: how does FERC’s increasing presence in the futures arena affect CFTC oversight?
  • Market manipulation, OATT violations, capacity release shipper-must-have-title, FPA section 203, MBRs: where regulator activity is focused most now?
  • Drawing the line between legitimate risk-taking and price setting vs. market manipulation
  • Assessing your organizational structure and communications between merchant and transmission employees for risk of violating standards of conduct
  • Self-reporting when you find a violation: how do you assess the risks and benefits?

Don’t miss this opportunity to learn about new and developing compliance initiatives and benchmark your compliance efforts and programs against those of your peers. Spaces will go quickly so register now.

Contents & Contributors

FERC, CFTC and FTC Priorities, Overlap and Coordination: What the Evolving Regulatory Framework Means for Your Compliance Program
Peter Richman, Deputy Assistant Director, Bureau of Competition, FTC (Washington, DC)
Geoffrey Aronow, Partner, Bingham McCutchen LLP, Former Director of Enforcement, CFTC (Washington, DC)
Sheila Slocum Hollis, Partner, Duane Morris LLP, Former First Director of the Office of Enforcement of FERC (Washington, DC)


Lessons Learned from Recent FERC & CFTC Litigation and Settlements
John Moot, Partner, Skadden, Arps, Slate, Meagher & Flom LLP, Former Chief of Staff and General Counsel, FERC (Washington, DC)
Robert Fleishman, Partner, Covington & Burling (Washington, DC)


Drawing the Line Between Legitimate Price-Setting/Risk-Taking and Market Manipulation in a Shifting Regulatory Environment
Charles Cerria, Assistant General Counsel-Trading, Hess Corporation (New York, NY)

Avoiding Allegations of Affiliate Abuse and Other Pitfalls
Michael Sweeney, Partner, Hunton & Williams (Washington, DC)
Antoine P. Cobb, Manager, Federal Regulation, Arizona Public Service Company (Phoenix, AZ)


FERC and CFTC Audits and Investigations: Responses and Approaches For Mitigating Penalties and Reputational Harm
Larry Eisenstat, Energy Practice Leader, Partner, Dickstein Shapiro LLP, (Washington, DC)
Joel B. Kleinman, Partner, Dickstein Shapiro LLP (Washington, DC)


What to do When you Find a Violation: Benefits and Cautions When Self Reporting
Jeffrey Perryman, Director, Compliance, Atmos Energy Corporation (Dallas, TX)
Regina Y. Speed-Bost, Partner, Schiff Hardin LLP, Former Advisory and Trial Attorney at FERC (Washington, DC)

Best Practices for Creating a Compliance Program that Meets FERC Requirements
Stephen R. Melton, Vice President & Deputy General Counsel, NiSource Corporate Services Company, Chief FERC Compliance Officer for the NiSource Pipelines and North Indiana Public Service Company (Houston, TX)
Andrew S. Katz, Senior Counsel, Northeast Utilities (Washington, DC)
John L. Doran, Principal, SunGard (Houston, TX)
Peggy A. Heeg, Partner, Fulbright & Jaworski L.L.P. (Houston, TX)


Conducting a Risk Assessment of your Energy Trading Compliance Program
Bray M. Dohrwardt, Director, Government and Regulatory Affairs, Direct Energy, (Houston, TX)
Hon. Sharon Brown-Hruska, Ph.D., NERA Economic Consulting, Former Commissioner and Acting Chairman, CFTC (Washington, DC)
Alan Bransgrove, Director of Risk Control, Xcel Energy (Denver, CO)



DOCUMENT TYPES: PPT PDF DOC PRESENTATIONS AVAILABLE: 19

8:00
Registration Desk Opens and Continental Breakfast Served
9:00
Co-Chairs' Opening Remarks
Mr Bray Dohrwardt
Vice President, Head of Upstream Legal, Government & Regulatory Affairs
Direct Energy
Mr Michael Sweeney
Partner
Hunton & Williams
9:15
FERC‚ CFTC and FTC Priorities‚ Overlap and Coordination: What the Evolving Regulatory Framework Means for Your Compliance Program
Mr Peter Richman
Deputy Assistant Director
Federal Trade Commission
1 file
Prohibitions on Market Manipulations
169.5 KB 19 pages Presentation
PDF - Prohibitions on Market Manipulations
Mr. Geoffrey Aronow
Partner
Bingham McCutchen LLP
1 file
Issues Facing Energy Traders With CFTC’s, FTC’s and FERC’s Overlapping Manipulation Jurisdiction
227 KB 9 pages Presentation
PPT - Issues Facing Energy Traders With CFTC’s, FTC’s and FERC’s Overlapping Manipulation Jurisdiction
-Sheila Slocum Hollis
Partner
Duane Morris LLP
1 file
Federal Energy Regulatory Commission Enforcement Program and Recent Developments
935 KB 13 pages Presentation
PPT - Federal Energy Regulatory Commission Enforcement Program and Recent Developments
10:15
Lessons Learned from Recent FERC & CFTC Litigation and Settlements
Mr John Moot
Partner
Skadden Arps
1 file
FERC Enforcement Policy Trends
366 KB 15 pages Presentation
PPT - FERC Enforcement Policy Trends
Mr. Robert S. Fleishman
Senior Of Counsel
Morrison & Foerster LLP
1 file
LESSONS LEARNED FROM RECENT FERC AND CFTC LITIGATION AND SETTLEMENTS
280 KB 43 pages Presentation
PPT - LESSONS LEARNED FROM RECENT FERC AND CFTC LITIGATION AND SETTLEMENTS
11:00
Coffee Break
11:15
Drawing the Line Between Legitimate Price-Setting/Risk-Taking and Market Manipulation in a Shifting Regulatory Environment
Mr. Charles Cerria
Associate General Counsel - Trading
Hess Corporation
1 file
Legitimate Pricing/Risk-Taking or Market Manipulation
179 KB 72 pages Presentation
PPT - Legitimate Pricing/Risk-Taking or Market Manipulation
12:30
Networking Luncheon for Delegates and Speakers
13:45
Avoiding Allegations of Affiliate Abuse and Other Pitfalls
Mr Michael Sweeney
Partner
Hunton & Williams
Mr Antoine Cobb
Manager‚ Federal Regulation
Arizona Public Service Company
1 file
Avoiding Allegations of Affiliate Abuse and Other Pitfalls
1.2 MB 25 pages Presentation
PPT - Avoiding Allegations of Affiliate Abuse and Other Pitfalls
14:45
Afternoon Refreshment Break
15:00
FERC and CFTC Audits and Investigations: Responses and Approaches For Mitigating Penalties and Reputational Harm
Mr Larry Eisenstat
Energy Practice Leader‚ Partner
Dickstein Shapiro LLP
1 file
FERC AND CFTC INVESTIGATIONS AND AUDITS
303.5 KB 25 pages Presentation
PPT - FERC AND CFTC INVESTIGATIONS AND AUDITS
Mr Joel Kleinman
Partner
Dickstein Shapiro LLP
3 files
EisenstatKleinman.pdf
465.9 KB 13 pages Presentation
PDF - EisenstatKleinman.pdf
EisenstatKleinman.2.pdf
80.2 KB 3 pages Presentation
PDF - EisenstatKleinman.2.pdf
EisenstatKleinman.3.pdf
110.8 KB 3 pages Presentation
PDF - EisenstatKleinman.3.pdf
16:15
Ensuring Ethical Behavior in the Course of Achieving Energy Trading Compliance
-Sheila Slocum Hollis
Partner
Duane Morris LLP
17:15
Day One Concludes
7:30
Continental Breakfast
8:30
Co-Chairs' Recap and Remarks
8:45
What to do When you Find a Violation: Benefits and Cautions When Self Reporting
Mr Jeffrey Perryman
Director‚ Compliance
Atmos Energy Corporation
Ms. Regina Speed-Bost
Partner
Schiff Hardin LLP
1 file
What to do When You Find a Violation: Benefits and Cautions When Self Reporting
213.5 KB 14 pages Presentation
PPT - What to do When You Find a Violation: Benefits and Cautions When Self Reporting
9:45
Best Practices for Creating a Compliance Program that Meets FERC Requirements
Mr Stephen Melton
VP and Deputy General Counsel
NiSource Corporate Services Company
1 file
Best Practices for FERC Compliance Programs
1.8 MB 23 pages Presentation
PPT - Best Practices for FERC Compliance Programs
Mr Andrew Katz
Senior Counsel
Northeast Utilities
1 file
BEST PRACTICES FOR CREATING A COMPLIANCE PROGRAM THAT MEETS FERC REQUIREMENTS
258 KB 19 pages Presentation
PPT - BEST PRACTICES FOR CREATINGA COMPLIANCE PROGRAM THAT MEETS FERC REQUIREMENTS
Ms Peggy A. Heeg
Partner
Fulbright & Jaworski L.L.P
1 file
Best Practices for Creating A Compliance Program That Meets FERC Requirements
1.2 MB 28 pages Presentation
PPT - Best Practices for Creating A Compliance Program That Meets FERC Requirements
Mr John Doran
Principal
SunGard Consulting Services
11:15
Coffee Break
11:30
Conducting a Risk Assessment of your Energy Trading Compliance Program
Mr Bray Dohrwardt
Vice President, Head of Upstream Legal, Government & Regulatory Affairs
Direct Energy
2 files
PROCESS FOR CONDUCTING A RISK ASSESSMENT OF YOUR ENERGY TRADING COMPLIANCE PROGRAM January 2009
734.5 KB 14 pages Presentation
PPT - PROCESS FOR CONDUCTING A RISK ASSESSMENT OF YOUR ENERGY TRADING COMPLIANCE PROGRAMJanuary 2009
PROCESS FOR CONDUCTING A RISK ASSESSMENT OF YOUR ENERGY TRADING COMPLIANCE PROGRAM
47 KB 5 pages Presentation
DOC - PROCESS FOR CONDUCTING A RISK ASSESSMENT OF YOUR ENERGY TRADING COMPLIANCE PROGRAM
Ms Sharon Brown-Hruska

NERA Economic Consulting
1 file
A Risk-Based Compliance Protocol
417.3 KB 21 pages Presentation
PDF - A Risk-Based Compliance Protocol
Mr Alan Bransgrove
Director of Risk Control
Xcel Energy
1 file
Conducting a Risk Assessment of Your Energy Trading Compliance Program
315.5 KB 13 pages Presentation
PPT - Conducting a Risk Assessment of Your Energy Trading Compliance Program
12:45
Conference Concludes