News & Analysis as of

Federal Energy Regulatory Commission Disgorgement Civil Monetary Penalty

Akin Gump Strauss Hauer & Feld LLP

FERC Approves Settlement with Bitcoin Mining Company for Violations of PJM Must-Offer Requirements

On January 30, 2025, the Federal Energy Regulatory Commission (FERC or the Commission) approved a Stipulation and Consent Agreement (Agreement) between the Office of Enforcement (OE) and Stronghold Digital Mining Inc....more

Pierce Atwood LLP

FERC Releases Fiscal Year 2023 Annual Enforcement Report

Pierce Atwood LLP on

The Federal Energy Regulatory Commission’s (FERC) Office of Enforcement (OE) recently issued its Fiscal Year 2023 Annual Report on Enforcement. As in previous years, the Enforcement Report discusses the activities performed...more

Akin Gump Strauss Hauer & Feld LLP

FERC Wins Statute of Limitations Fight in Market Manipulation Enforcement Case, But Uncertainty Remains

On January 4, 2019, the United States District Court for the District of Maine handed the Federal Energy Regulatory Commission (FERC or “the Commission”) a victory in FERC v. Silkman, a long-running market manipulation...more

Akin Gump Strauss Hauer & Feld LLP

Federal Court Hands FERC Procedural Victory in Market Manipulation Enforcement Case While Confirming Statute of Limitations is a...

On September 24, 2018, the U.S. District Court for the Eastern District of Virginia denied defendants’ motion to dismiss the Federal Energy Regulatory Commission’s (FERC or “the Commission”) complaint in FERC v. Powhatan...more

Akin Gump Strauss Hauer & Feld LLP

Federal Court Upholds FERC’s Expansive Use of Anti-Market Manipulation Rule in Power Market “Gaming” Case

On March 30, 2018, the U.S. District Court for the Southern District of Ohio issued an order substantially denying defendants’ Motion to Dismiss the Federal Energy Regulatory Commission’s (FERC or the “Commission”) Complaint...more

Pierce Atwood LLP

Respondents in FERC v. Powhatan Energy Fund, LLC To Receive “Trial De Novo”

Pierce Atwood LLP on

On December 28, 2017, the U.S. District Court for the Eastern District of Virginia issued an opinion finding that a “trial de novo governed by the Federal Rules of Civil Procedure and the Federal Rules of Evidence” shall be...more

Nutter McClennen & Fish LLP

FERC v. City Power Marketing — The Commission’s First Enforcement Settlement Since Regaining Quorum

Matt Connolly, a senior associate in Nutter’s Litigation Department, discussed the Federal Energy Regulatory Commission (FERC) issuing its first enforcement order since regaining a quorum in Nutter Insights. Matt commented on...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Southern District Decision Highlights Challenges for Private Litigants Pursuing Manipulation Claims Under the CEA"

The U.S. District Court in the Southern District of New York recently dismissed a class action lawsuit alleging that Total, S.A., Total Gas & Power North America, Inc., and Total Gas & Power Limited (collectively, “Total”)...more

Cadwalader, Wickersham & Taft LLP

The Supreme Court May Review Whether Regulatory Enforcement Actions Seeking Disgorgement are Subject to a Five-Year Statute of...

Federal regulatory agencies, such as the Securities and Exchange Commission (“SEC”), the Commodity Futures Trading Commission (“CFTC”), and the Federal Energy Regulatory Commission (“FERC”), have the authority to impose...more

Akin Gump Strauss Hauer & Feld LLP

FERC’s Maxim Settlement Shows Continued Focus on ISO and RTO Bidding Conduct

On September 26, 2016, the Federal Energy Regulatory Commission (FERC or the “Commission”) issued an order1 approving a Stipulation and Consent Agreement between its Office of Enforcement (“Enforcement”) and Maxim Power Corp....more

Akin Gump Strauss Hauer & Feld LLP

BP Case Reflects FERC’s Broad View of its Jurisdiction

On July 11, 2016, the Federal Energy Regulatory Commission (FERC or “Commission”) issued an order affirming an Administrative Law Judge’s (ALJ) Initial Decision finding that BP America (“BP”) and certain affiliated entities...more

Cadwalader, Wickersham & Taft LLP

Tariff Compliance Is Not Enough: FERC Imposes Nearly Thirty-Five Million Dollars in Penalties and Disgorgement against Powhatan...

On May 29, 2015, the Federal Energy Regulatory Commission (“FERC”) issued an Order against Powhatan Energy Fund, LLC and its trading partners, Dr. Houlihan Chen, HEEP Fund, LLC and CU Fund, Inc. (together, “Powhatan”). FERC...more

Akin Gump Strauss Hauer & Feld LLP

FERC Approves Four MISO Market Manipulation Settlements

On December 30, 2014, the Federal Energy Regulatory Commission (FERC) issued an Order Approving Stipulation and Consent Agreements (Order) approving four Stipulation and Consent Agreements (Settlement Agreements) between...more

Akin Gump Strauss Hauer & Feld LLP

FERC Issues Order to Show Cause and Notice of Proposed Penalties to Powhatan Energy Fund, LLC and Related Parties

On December 17, 2014, as amended December 18, 2014, the Federal Energy Regulatory Commission (FERC) issued an Order to Show Cause and Notice of Proposed Penalty (Show Cause Order)1 directing Houlian (Alan) Chen, HEEP Fund,...more

Bracewell LLP

Barclays Motion to Dismiss Raises Significant Issues About FERC Jurisdiction

Bracewell LLP on

After an investigation of actions in the western electricity markets by Barclays Bank PLC (“Barclays”), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the “Traders” and together with Barclays,...more

Cadwalader, Wickersham & Taft LLP

2013 FERC Report Confirms Increased Enforcement Activity

On November 21, 2013, the Federal Energy Regulatory Commission (FERC) Office of Enforcement (Enforcement) issued its 2013 Report on Enforcement (Report). The annual Report provides an overview of and statistics regarding...more

Akin Gump Strauss Hauer & Feld LLP

FERC Orders Civil Penalties and Disgorgement for Manipulation of ISO New England Load Response Program

On August 29, 2013, the Federal Energy Regulatory Commission (FERC) issued three orders assessing civil penalties on, and requiring disgorgement of profits by, Lincoln Paper and Tissue, LLC (Lincoln), Competitive Energy...more

King & Spalding

REGULATORY: FERC: Barclays and JP Morgan Subject to Penalties and Disgorgement of Profits for Market Manipulation

King & Spalding on

Two recent Federal Energy Regulatory Commission ("FERC") orders will result in the imposition of civil penalties totaling nearly three quarters of a billion dollars on Barclays Bank PLC ("Barclays") and JP Morgan Ventures...more

Bracewell LLP

FERC Assesses Record Civil Penalty But the Story Is Just Beginning

Bracewell LLP on

By Order dated July 16, 2013 the Federal Energy Regulatory Commission (FERC) assessed civil penalties against Barclays Bank Plc. and four of its traders – Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith (Order). The...more

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