The U.S. District Court for the Southern District of Texas last week issued a permanent injunction against Texas resident Richard Hale and Texas-based Allegheny Gulf Investments Inc. that prohibits them from, among other things, controlling or directing any commodity futures or options trading accounts. The defendants also were ordered to pay a $440,000 fine for violations related to trading natural gas futures.
Fines
Articles from Fines
Court Fines Texas Firm, Employee $440,000 for Gas Futures Trading Losses
U.S. District Court for the Southern District of Texas has issued a permanent injunction against Texas resident Richard Hale and Texas-based Allegheny Gulf Investments Inc. that prohibits them from, among other things, controlling or directing any commodity futures or options trading accounts. The defendants also were ordered to pay a $440,000 fine for violations related to trading natural gas futures.
Shell’s $151M Fine to Resolve Reserves Investigations Called ‘Disappointing’
London-based Royal Dutch/Shell Group has agreed to pay $151 million in fines to resolve investigations by the Securities and Exchange Commission (SEC) and British regulators into the company’s oil and natural gas reserves miscalculations.
CFTC Fines Six Energy Trading Firms $50M for Reporting Fake Gas Trade Data
The Commodity Futures Trading Commission (CFTC) announced last Wednesday it reached settlements totaling $50 million with six energy trading companies resolving charges that they knowingly reported false information on natural gas trades to index publishers. Two of the firms also were charged with attempted manipulation of gas prices.
CFTC Fines Six Energy Trading Firms $50M for Reporting Fake Gas Trade Data
The Commodity Futures Trading Commission (CFTC) said Wednesday it reached settlements totaling $50 million with six energy trading companies resolving charges that they falsely reported information on natural gas trades to index publishers. Two of the firms also were charged with attempted manipulation of price indexes.
Enbridge Charged in Fatal Blast in Toronto; Faces Trial, Hefty Fines
Ontario’s pipeline safety regulators have charged Enbridge Gas Distribution Inc. and two other companies with negligence in connection with a pipeline explosion last April in Toronto that killed five persons, left several injured and caused extensive property damage.
Reliant, CMS Affiliates Pay CFTC $34M to Settle Market Manipulation Charges
A Reliant Energy affiliate will pay an $18 million fine and two CMS affiliates will pay a total of $16 million in fines to settle charges of market manipulation and other violations, according to two orders released Tuesday by the Commodity Futures Trading Commission (CFTC). While they agreed to the settlements, the companies neither admitted nor denied any of the charges.
Reliant, CMS Affiliates Pay CFTC $34M to Settle Market Manipulation Charges
A Reliant Energy affiliate will pay an $18 million fine and two CMS affiliates will pay a total of $16 million in fines to settle charges of market manipulation and other violations, according to two orders released Tuesday by the Commodity Futures Trading Commission (CFTC). While they agreed to the settlements, the companies neither admitted nor denied any of the charges.
Georgia Commission Fines Gas Marketer, Reviews Automatic Contract Renewals
Under a stipulated agreement with the Georgia Public Service Commission, Southern Company Gas (SCG) will credit $45,000 to some of its customer accounts and contribute $100,000 to Georgia’s Low Income Heat Energy Assistance Program to settle a case in which it allegedly sent out 97,000 improper disconnect notices to the state’s customers.
El Paso Identifies More False Price Reports; Prosecutors Say Part of Conspiracy
El Paso Corp. disclosed last Monday it has furnished the U.S. Attorney’s Office in Houston with details of more incidents in which its employees gave deceptive information on natural gas trades to the energy trade publication, Platts’ Inside F.E.R.C. At the same time, federal prosecutors said in court the false reporting practices of El Paso traders were part of a two-year-old conspiracy to manipulate energy prices.