1. ENERGY MARKETS
Court rules for hedge funder in challenge to FERC futures enforcement
Federal judges ruled today that the Federal Energy Regulatory Commission does not have the authority to assess fines for manipulating natural gas futures markets. In a closely watched case that could have broad implications for the agency, the U.S. Court of Appeals for the District of Columbia Circuit held that hedge fund manager Brian Hunter was correct in arguing that Congress mandated the Commodity Futures Trading Commission, not FERC, to police futures trading.