Financial Reform Legislation Impacts the Energy Industry
23 July 2010Energy Alert
On 21 July President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act). The Act is the most far-reaching financial reform legislation enacted since the 1930s. Although directed primarily at the financial services industry, the Act will also have a major impact on the energy industry. This client alert addresses three areas in which the Act will impact the energy industry: the regulation of derivatives traded over-the-counter, the expansion of the authority of the Commodity Futures Trading Commission (CFTC) over market manipulation, and the drawing of jurisdictional lines between the CFTC and the Federal Energy Regulatory Commission (FERC).