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Inflation Reduction Act
U.S. Futures Exchanges Disciplinary Actions Report: March 2016
ICE FUTURES ICE 2014-072 Position Limits; Misc. Violation of Rule 4.04: Conduct Detrimental to the Exchange; and Rule 6.19: Position Limits for Cotton No. 2 Contracts. Allegedly, an entity may have violated Exchange Rule 4.04 when, after Exchange Staff had...
Court Rules on Rights of Respondents in FERC Enforcement Actions
On April 11, 2016, the United States District Court for the District of Massachusetts issued a procedural order denying motions to dismiss actions initiated by the Federal Energy Regulatory Commission (“FERC”) seeking affirmance of two orders assessing civil penalties against...
When the Best Defense is a Federal Cause of Action: Trade Secret Owners May Soon Have a Federal Cause of Action for Trade Secret Misappropriation
Earlier this month, the U.S. Senate unanimously passed bill S. 1890, the Defend Trade Secrets Act of 2016 (DTSA). If enacted, the DTSA will create a federal cause of action for trade secret misappropriation, providing protection similar to that afforded...
Industry Groups Alert FERC that the Viability of Contract Formation and Contract Sanctity are at Stake in Review of Initial Decision
On May 22, 2015, the Federal Energy Regulatory Commission (“Commission”) issued Opinion No. 537, [1] reversing the March 28, 2014 Initial Decision [2] in part and remanding for clarification and further findings by the Administrative Law Judge (ALJ). The issues...
Delaware Chancery Court Dismisses Challenge to Merger of MLPs
Reaffirms Ability of Limited Partnerships to Modify Fiduciary Duties by Contract, Including Disclosure Obligations in Mergers In an opinion issued on March 29, 2016, the Delaware Chancery Court dismissed a challenge to the 2015 acquisition of Regency Energy Partners LP...
Improved U.S. - Cuba Relations Create Potential FCPA Risks for U.S. Companies Looking to Do Business There
The normalization of relations between the United States and Cuba offers potential lucrative business opportunities for companies that are prepared to meet Cuba’s unique corruption risks. On December 17, 2014, President Barack Obama and Cuban President Raul Castro announced the...
Africa Energy Update
The latest news on legal and regulatory developments in Africa's energy sector with perspectives from our offices in London, New York and Seattle. Bracewell Alerts and Publications Regional Enforcement Snapshot of Southern Africa 22 March 2016 | Energy Legal Blog®...
U.S. Futures Exchanges Liberalize Exceptions to Position Limit Aggregation Rules
Effective March 18, 2016 and April 4, 2016 [1] respectively, the major U.S. futures exchanges, ICE Futures U.S., Inc. (“ICE”) and the CME Group exchanges (“CME Group”), [2] have amended their rules regarding aggregation of positions for purposes of determining...
Supreme Court Rules Against Freezing "Untainted" Assets
In a ruling that could have far-reaching implications for criminal defendants’ right to counsel of their choice, the Supreme Court decided on March 30, 2016 that the government cannot freeze “untainted” assets that are not related to any alleged wrongdoing...
Significant New Safety Requirements Proposed For Natural Gas Pipelines
On March 17, the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a major proposal to revise the safety standards for onshore natural gas pipelines. The proposed rule follows years of study as well as specific...
FERC Report on Transmission Investment and Related Technical Conference
At the March 17, 2016 Federal Energy Regulatory Commission ("FERC") meeting, FERC's Office of Energy Policy and Innovation presented a report assessing the effectiveness of FERC's transmission investment policies, including Order No. 1000 reforms and identifying possible policy changes ("Report")...
U.S. Futures Exchanges Disciplinary Actions Report: February 2016
Disciplinary Actions ICE FUTURES ICE 2012-038 Block Trades Violation of Rule 4.07(c) "“ Block Trading. Allegedly, an entity violated ICE Futures U.S. ("IFUS") Rule 4.07(c) by failing to report a 180 lot block trade, that was erroneously submitted to IFUS...
EPA Proposes Broad Expansion of Risk Management Program Regulations
On February 25, 2016, EPA released a pre-publication version of its much anticipated amendments to the agency's Risk Management Program (RMP) regulations. The proposal, which follows EPA's 2014 Request for Information, would impose significant changes to existing prevention program, emergency...
EEOC Files First Suits Against Businesses Alleging Sexual Orientation Discrimination
Previously, federal courts, for the most part, held that Title VII of the Civil Rights Act of 1964, which prohibits discrimination based upon race, color, national origin, religion and sex, does not provide a basis for challenging discrimination based upon...
Proposed Regulations Could Have a Substantial Effect on Special District Issuers, Especially Developer Districts
In an important development for special districts, including water districts, road districts, and other utility districts, on February 22, 2016, the Internal Revenue Service (“IRS”) released proposed Treasury Regulations (the “Proposed Regulations”) revising guidelines for what is a “political subdivision”...