Client Alert
| March 9, 2010
Senate Considers Clarifying FERC/CFTC Jurisdiction
On March 9, 2010, the Senate Committee on Energy and Natural Resources (the “Senate Committee”) held a hearing to consider certain potential implications of the Wall Street Reform and Consumer Protection Act of 2009 (the “Financial Reform Bill” or "H.R. 4173"), which the House of Representatives passed on December 11, 2009. In particular, the Senate Committee sought to examine whether a corresponding Senate bill should include clarification regarding the respective jurisdiction of the Federal Energy Regulatory Commission (“FERC”) and the Commodity Futures Trading Commission (the “CFTC”). While the Senate Banking and Agriculture Committees are considering financial reform legislation that may subject energy transactions to the CFTC's jurisdiction, the Senate Committee has oversight of FERC.
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