Inflation Reduction Act
U.S. Futures Exchanges Disciplinary Actions Report - May 2017
NYMEX NYMEX 16-0372-BC Misc. Violation of Rule 432.Q, 432.W – General Offenses Pursuant to a settlement offer, a panel found that from July 2015 through March 2016, a non-member trader was concomitantly operating market-making and market-taking automated trading systems during...
Offsite Drilling: Lightning Oil v. Anadarko and Its Potential Impact on Offsite Surface Use in Horizontal Drilling
As the global commodity price rout continues, operators have become hypersensitive to increasing efficiencies in order to lower break-even prices. Following a recovery in early 2016, oil prices have remained somewhat range-bound between roughly $45 and $55 per barrel for...
U.S. Futures Exchanges Disciplinary Actions Report - April 2017
For the first time since we began the monthly Disciplinary Actions Report there were no disciplinary notices on the exchanges we monitor. Of course, there continue to be pending, non-public matters and more notices to come.
EPA Postpones Compliance Dates for More Stringent Requirements for Discharges from Coal Fired Power Plants
The U.S. Environmental Protection Agency (EPA) has taken two recent actions that have resulted in postponement of the compliance dates for more stringent requirements in the effluent limitations guidelines and standards for the steam electric power generating point source category...
U.S. Futures Exchanges Disciplinary Actions Report - March 2017
NYMEX NYMEX 15-0200-BC-6 EFRP Violation of Rules 538 – Exchange for Related Positions and 538.C – Related Position. A non-member entity was found to have entered into an EFRP transaction on December 1, 2014 that was in violation of Exchange...
EPA Seeks Public Comment on Existing Regulations for Repeal, Replacement or Modification
On April 13, 2017, the U.S. Environmental Protection Agency (EPA) announced that it is seeking comments from the public on existing regulations that the Agency should consider repealing, replacing, or modifying. 82 Fed. Reg. 17793 (Apr. 13, 2017). EPA issued...
EPA Proposes to Delay the Effective Date of RMP Rule Amendments to 2019
On April 3, 2017, the U.S. Environmental Protection Agency (EPA) published a proposed rule that would delay the effective date of the recent Risk Management Program (RMP) rule amendments to February 19, 2019. 82 Fed. Reg. 16146 (Apr. 3, 2017)...
President Trump Signs Executive Order “Promoting Energy Independence and Economic Growth”
On March 28, President Donald Trump signed an Executive Order titled “ Promoting Energy Independence and Economic Growth .” Touted by the administration as both “protecting the environment and promoting [the] economy,” [1] the Order aims to “promote clean and...
Texas Regional Haze: Fifth Circuit Grants EPA’s Motion to Remand the Texas Regional Haze FIP
On March 22, 2017, the U.S. Court of Appeals for the Fifth Circuit allowed EPA to revise and change the Texas Regional Haze Federal Implementation Plan (FIP) when it granted EPA’s motion to remand the plan to EPA for revision...
U.S. Futures Exchanges Disciplinary Actions Report - February 2017
NYMEX NYMEX 16-0600 Misc . Rules 413 – Summary Access Denial Actions (in part) and 413.A – Authority to Deny Access. On January 5, 2017, CME Group’s Market Regulation Department summarily denied a member’s direct and indirect access to the...
Another Win for Respondents’ Rights: District Court Opines on the Scope of De Novo Review
On March 8, 2017, the U.S. District Court for the Eastern District of California issued an order affirming that ETRACOM LLC and its owner (the “Respondents”) are entitled to a full trial on the merits and discovery rights in an...
U.S. Futures Exchanges Disciplinary Actions Report - January 2017
NYMEX NYMEX 15-0087-BC-7 Misc. Violation of Rule 432 – General Offenses (in part) In August a non-member firm was alleged to have failed to respond to Exchange staff requests for information related to an investigation. Accordingly, the Business Conduct Committee...
What Will Be the Fate of PHMSA’s Final Hazardous Liquids Pipeline Rule?
On January 13, 2017, just one week before President Trump’s inauguration, PHMSA released final updates to the Pipeline Safety Regulations applicable to onshore transportation of hazardous liquids (“Final Rule”) . The Final Rule was then subject to the Priebus Memo...
President Trump’s SCOTUS Nominee, Judge Neil Gorsuch, Suggests a Weakening of the Chevron Doctrine With Less Deference to Rulemaking Efforts from EPA, DOI and Other Federal Agencies
On January 31, President Donald Trump selected Judge Neil Gorsuch as his nomination for the United States Supreme Court seat left open by the death of Justice Antonin Scalia nearly a year ago. From an environmental law perspective, it is...
In Line With Recent Precedent, Trump Administration Directs Federal Agencies to Halt New Regulations
As expected, one of President Trump’s first actions after being sworn in to office was to issue a memorandum outlining his administration’s plans for managing new or pending federal regulations. As shown in the Table below, the memorandum from President...