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This week Energimarknadsinspektionen announced it is embarking on a thematic review to assess the procedures firms have in place around handling incorrect bids.

This week the US CFTC announced an enforcement action against a registered Swap Dealer for failing to ensure that its transaction surveillance solution was functioning effectively.

This week the Australian Energy Regulator (AER) announced that a Federal Court had ordered an electricity generator to pay a fine for breaching Australia’s National Electricity Rules.

The US Department of Justice has announced that the former president of an energy trading firm had pleaded guilty to an illegal commission kickback scheme involving natural gas futures.

This week the EU Parliament adopted a new Directive on criminalising the violation of EU sanctions by harmonising the enforcement of sanctions across the bloc.

ARERA issued a fine to a Swiss firm for a breach of REMIT where the firm failed to register as a Market Participant and failed to fulfill its reporting obligations.

This week the US Department of Justice and the Swiss Federal Council announced penalties against Gunvor SA totalling approximately USD $760 million for bribery-related cases.

The Italian energy regulator fines ENET Energy S.A. for sending false and misleading signals to the market using a “fictitious device” in the Italian gas market in breach of Article 5 of REMIT.

This week the CFTC’s EEMAC committee discussed rare earth metals and their importance to the energy transition and the evolution of both spot and derivatives markets in these metals.

This week ANRE, the Romanian energy regulator, fined four firms for REMIT violations associated with wash trading.

The Australian Energy Regulator has published its report on enforcement cases for the second half of 2023 and outlines its enforcement priorities for 2024.

The CFTC has started 2024 by charging a trader for engaging in a Fictitious Sales Scheme in agricultural futures on the CBOT exchange.

ESMA plans to work with National Competent Authorities across the EU to assess the implementation of pre-trade controls implemented under RTS 6 of MiFID2.

The Energy Markets Inspectorate (Ei) publishes notice urging market participants to ensure that they have measures in place to minimize the risk of entering incorrect orders.

On 20 December 2023, the EU along with the other G7+ Price Cap Coalition members, announced revisions to the Russian oil price cap compliance regime.

This week several US Federal agencies issued joint guidance on best practices to ensure the proper control over the transportation of goods subject to export controls and sanctions.

The CFTC approved proposed guidance relating to factors a CFTC-regulated exchange should consider when listing voluntary carbon credit derivative contracts.

The European Commission has proposed a 12-month extension of the emergency measures introduced last year in response to the energy crisis provoked by Russia’s invasion of Ukraine.

Joint industry associations highlight their collective REMIT 2 priorities in two open letters to EU lawmakers as the trilogue negotiations near their conclusion.

A major milestone for REMIT 2 is announced as political agreement is reached on the final rules between the European Parliament and Council.

The Australian financial regulator has again warned firms operating in Australia about their continued enforcement focus on greenwashing.

FERC has fined the owner of several power generation plants for submitting inaccurate Physical Maximum (Pmax) values in violation of CAISO market rules.

The CFTC has issued a $3million penalty against an oats merchandiser for alleged market abuse in Oats futures on CBOT.

The CFTC's new enforcement advisory will significantly change how future enforcement cases are resolved.

The Dispute Settlement and Sanctions Committee (CoRDiS) for CRE, the French energy regulator, issued a “non-infringement” REMIT enforcement decision this week.

The Chairman of the CFTC, Rostin Behnam, recently delivered a speech addressing the Commission’s enforcement priorities.

ESMA has published its 2024 work programme and there are a number of things energy and commodity traders should be aware of.

ICE Futures US has announced a series of Disciplinary Notices which mostly target clearing members and brokers.

The Market Regulation Department at the CME has issued an updated Market Regulation Advisory Notice concerning the use of material non-public information.

CEER and ACER have published their latest joint Market Monitoring Report showing that retail electricity and gas prices rose significantly in response to wholesale price spikes in 2022.

This week the Monetary Authority of Singapore (MAS) published a guidance paper outlining their expectations for effective money-laundering/terrorism financing controls for regulated firms.

FERC has penalized an Arkansas-based steel mill and a contracted market facing entity for breaching market rules around demand response provision in the MISO market.

The Monetary Authority of Singapore (MAS) issued a statement warning about enforcement for money laundering and terrorism financing activities.

This week the Italian energy market regulator announced an investigation into alleged insider trading under REMIT.

This week the CFTC announced an enforcement action involving multiple instances of spoofing in WTI light sweet crude oil futures contracts on CME NYMEX.

This week saw four individual Disciplinary Actions issued by the CME COMEX and CBOT disciplinary panels continuing the CME Group's active run of enforcement actions.

The so-called “Tri-Seal” note describes voluntary self-disclosure (VSD) policies that apply to U.S. sanctions, export controls, and other national security laws.

This week the US CFTC held their second meeting focussing on voluntary carbon markets at a critical point in their development.

This week the Hungarian energy regulator issued a fine of approximately €1.4 million for alleged abuse of a gas capacity auction in breach of Article 5 of REMIT.

Member States of the IMO have adopted the 2023 IMO Strategy on Reduction of GHG Emissions from Ships.

The US CFTC issued a USD $150,000 fine for a breach of Federal position limits in Platinum futures, the first enforcement case involving so-called Dodd-Frank position limits.

The US Commodity Futures Trading Commission has issued guidance to help whistleblowers identify improper behaviour in US carbon markets.

ASIC’s chair, Joe Longo, spoke at the AFR ESG Summit on 5 Jun discussing a range of ESG related topics.

Rancher ordered to pay a large fine in connection with a phantom cattle fraud scheme including position limit violations.

The European Commission has issued a report analysing the impacts of the emergency energy measures implemented in response to the ongoing Ukraine conflict.

This week CME Nymex issued three disciplinary action notices to brokers and clearing members for breaching exchange rules.

In a recent speech by the FCA's Sarah Pritchard, she expressed her views on how firms should approach sanctions systems in response to the ongoing Ukraine conflict.

ESMA finds high degree of concentration in natural gas derivatives markets.

The ICE Endex Exchange has updated its Market Correction Mechanism (MCM) Regulation guidance.

Energiavirasto (EV), the Finnish energy regulator, has announced further developments in its “market surveillance practices” under REMIT.

The CME issues a batch of 20 enforcement notices continuing its run of active enforcement across its trading venues.

The CFTC fined BBL Commodities, a US based commodity trader, for the failure to maintain an adequate supervisory system to prevent potentially disruptive trading.

The Financial Conduct Authority (FCA) and HM Treasury have completed a review of the criminal market abuse regime applicable to financial market activities conducted in the UK.

Here’s what energy and commodity firms active in US markets need to know about the DoJ’s focus on spoofing and the potential for criminal convictions

Get a summary of the key changes to the UK EMIR derivative reporting regime and what it means for energy and commodity firms.

ACM’s market alert provides rare clarity and useful guidance. Read more about the key takeaways.