This post was written by Efrem M. Grail, Elizabeth S. Fenton, and Andrew P. Cross.
Public outcry, political pressure and new regulations enacted pursuant to the Dodd-Frank legislation have empowered the Commodity Futures Trading Commission to step up its investigative and enforcement efforts. Commodities traders, derivatives brokers, and energy professionals beware; your regulators are ready to impose large fines and penalties. But there are some lessons to be learned – and actions to be taken – now, to avoid becoming caught up in an investigation, or worse.
Reed Smith attorneys from the Global Regulatory Enforcement, Commercial Litigation, and Financial Industry Groups team up in the attached Client Alert.