Hunter ruling may slow Ferc’s anti-manipulation push

A court decides the US Federal Energy Regulatory Commission overstepped its authority in trying to prosecute manipulation in natural gas futures - a ruling with implications for other cases


A federal court has dealt a major setback to the US Federal Energy Regulatory Commission (Ferc) by ruling that the commission exceeded its authority in seeking to fine a former trader at Amaranth Advisors, the ill-fated Connecticut-based hedge fund, for allegedly manipulating the natural gas futures market.

In the March 15 ruling, the US Court of Appeals for the District of Columbia Circuit rejected Ferc's efforts to impose a $30 million fine on Brian Hunter, who is based in Calgary, by

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