US senators seek stronger federal oversight of energy markets

A group of US senators introduced the Energy Market Oversight Act on March 5, in a bid to restore the Commodity Futures Trading Commission’s (CFTC) authority over online and bilateral energy trades and give the Federal Energy Regulatory Commission powers to investigate and punish possible instances of fraud and manipulation in the over-the-counter (OTC) energy markets.

The senators pushing for the legislation are: Dianne Feinstein (Democrat, California), Peter Fitzgerald (Republican, Illinois)

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