Media October-December 2005
|News Release: October 12, 2005||View Printable PDF Version|
FERC Chairman Kelliher and CFTC Chairman Jeffery sign
MOU on information sharing, confidentiality
The Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) today entered into a memorandum of understanding (MOU) regarding the sharing of information and the confidential treatment of proprietary energy trading data.
The agreement reflecting provisions of the recently enacted Energy Policy Act of 2005 was signed by FERC Chairman Joseph T. Kelliher and CFTC Chairman Reuben Jeffery III. The Energy Policy Act directed the MOU to ensure that "information requests to markets within the respective jurisdiction of each agency are properly coordinated to minimize duplicative information requests," and to address "the treatment of proprietary trading information."
Congress directed that the MOU be completed within six months of the Energy Policy Act's August 8, 2005, effective date.
FERC Chairman Kelliher said: "The fact that we have this agreement with the CFTC four months ahead of schedule is a clear sign of the enhanced cooperation and coordination between our two agencies. This means the agreement is in place well before the winter heating season, when already stressed energy prices will require vigilance. This agreement will contribute to better coordination of enforcement."
CFTC Chairman Jeffery said: "This MOU will result in a more effective and efficient working relationship with FERC. It will enable both agencies to work actively to assure the price integrity of the markets for natural gas and other energy products."
The agreement is available at www.ferc.gov and www.cftc.gov.
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