Compliance, Investigations and Enforcement

Disputes with industry regulators can slow down or halt initiatives and ongoing operations. Troutman Sanders lawyers represent and advise utilities, power marketers and market participants on a multitude of issues related to the Federal Energy Regulatory Commission’s (FERC) statutes, rules, regulations and orders, and energy trading.

Our advice, training and representation regarding FERC trading compliance focuses particularly on anti-manipulation rules. Through collaborative with our clients, we assess potential issues and create and implement compliance programs. Other FERC-related areas we focus on are as follows:

  • Standards of conduct
  • Affiliate restrictions
  • Interlocking positions regulations
  • Tariff requirements
  • Financial requirements

If need be, we assist in the preparation of self-reports. Our lawyers have vast experience with this process, ranging from pre-audits through audit preparation, to on-site defense and representation during any civil penalty phase.

Troutman Sanders’ lawyers advise clients with respect to the Dodd-Frank Act and subsequent regulations as the rulemaking process continues. For example, we submit comment letters to the Commodities Futures Trading Commission (CFTC) and meet with staff and commissioners of the agency on behalf of clients. We develop and document policies and procedures regarding practices such as “end-user to end-user” trading to help clients comply with the Dodd-Frank Act.

In addition, we advise our clients with respect to securities law, Commodity Exchange Act, federal tax and ERISA issues in connection with the structuring and trading of commodities and derivatives.

  • Provided best-practices recommendations and guidance for combination electric/gas utilities.
  • Provided counsel and assistance to several utilities with audits and investigations by FERC’s Office of Enforcement. Work was in connection with compliance with standards of conduct, affiliate restrictions, Open Access Same-time Information Systems (OASIS) regulations and the utilities’ open access transmission tariffs.
  • Created and provided compliance training for utilities regarding FERC’s rules and regulations, including standards of conduct, affiliate restrictions and Open Access Transmission Tariff (OATT) compliance.
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