Dodd-Frank Compliance

The firm currently provides strategic regulatory counsel to energy clients with respect to various CFTC issues, including CFTC jurisdictional and compliance determinations, regulatory compliance strategies, and direct advocacy with CFTC Commissioners and staff. The following are some examples of our work:

  • Drafted formal opinion as to whether an LDC’s business transactions should be considered swaps classified as CFTC-jurisdictional swaps for purposes of CFTC regulation;
  • Performed review of pipeline’s use of a NAESB base contract to ensure that contracts entered into pursuant to the base contract are not swaps;
  • Prepared recommendations on modification of utility’s NAESB base contracts;
  • Advised a municipal utility on eligibility to elect the end-user exception and related regulatory implications;
  • Drafted an opinion letter on the adequacy of the representations of a qualified independent representative (QIR) advising a Special Entity transacting in energy swaps;
  • Provided guidance on the nature and extent of liability for inaccurate swap data reporting / incorrect swap classification determinations;
  • Provided guidance on the availability of the trade option to various energy companies;
  • Performed comprehensive CFTC compliance review and audit of transactions of major natural gas company; and
  • Prepared ISDA documentation updates using IECA amendments.