Energy scarcity warrants tough response to market abuse

Regulators must take energy market manipulation seriously, argues Kaminski

Vincent Kaminski

This month's column was inspired by a book on market manipulation I have been reading over the last few days.1 Market manipulation is as controversial as it is difficult to define. In practice, many academics and regulators analysed past manipulation cases using the approach famously advanced by US Supreme Court justice Potter Stewart, who said of hardcore pornography: "I know it when I see it." Legislation such as the US Dodd-Frank Act and the European Market Abuse Directive, as well as the eff