An Autumn Gleaning: Insights from October 2019 decisions in Kraft Foods, Vitol Manipulation Cases

For those interested in the contours of the Commodity Futures Trading Commission’s (CFTC) and the Federal Energy Regulatory Commission’s (FERC) anti-manipulation authority, three October 2019 decisions in two pending cases create opportunities for continued litigation over the scope of the agencies’ authority. The reopening of the CFTC case against Kraft Foods and FERC’s assessment of civil penalties against Vitol Inc. create the opportunity for further judicial refining of the agencies’ rules. In the meantime, while these developments provide no new insights as to the substance of market...
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