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FTC | RIN: 3084-AB57 | Publication ID: Fall 2019 |
Title: Prohibitions on Energy Market Manipulation Rule | |
Abstract:
The Commission plans to initiate periodic review of the Prohibition of Energy Market Manipulation Rule (Rule) by June 2020. This Rule, which became effective on November 4, 2009, prohibits fraud or deceit in wholesale petroleum markets, and omissions of material information that are likely to distort petroleum markets. Specifically, the final rule prohibits any person, directly or indirectly, in connection with the purchase or sale of crude oil, gasoline, or petroleum distillates at wholesale, from; 1) knowingly engaging in any act, practice, or course of business including making any untrue statement of material fact that operates or would operate as a fraud or deceit on any person; or 2) intentionally failing to state a material fact that under the circumstances renders a statement made by such person misleading, provided that such omission distorts or is likely to distort market conditions for any such product.
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Agency: Federal Trade Commission(FTC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Prerule Stage |
Major: Undetermined | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 16 CFR 317 | |
Legal Authority: 42 U.S.C. 17301 to 17305 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest. | |
RIN Data Printed in the FR: No | |
Related RINs: Previously reported as 3084-AB12 | |
Agency Contact: Alan Friedman Attorney Federal Trade Commission 600 Pennsylvania Avenue NW, Washington, DC 20580 Phone:202 326-2742 Email: afriedman@ftc.gov |