Irregularities

Citing the apparent trading irregularities of Amaranth Advisors LLC and large positions taken by the United States Natural Gas Fund LP (UNG) as evidence of the need for action, the Commodity Futures Trading Commission (CFTC) Thursday voted out a notice of proposed rulemaking (NOPR) that would set limits on speculative trading of exchange-traded futures and options contracts in major energy markets.

If the ongoing investigation by the Securities and Exchange Commission (SEC) uncovers irregularities by the once-mighty and now-bankrupt Enron Corp., the lead accountant for the agency assured House lawmakers Wednesday that it will deal “swiftly and completely with any wrongdoers.”