FERC fines former Amaranth trader in precedent-setting case

05/9/2011 | Risk.net (subscription required)

The Federal Energy Regulatory Commission levied a $30 million fine on Brian Hunter, formerly a trader at Amaranth Advisors, for manipulating the market. The case sets a precedent for other cases of market manipulation, but jurisdiction remains an issue. "The FERC was only concerned with the impact on the physical markets, but to get there they used evidence of what was going on in the futures and swaps markets," said Susan Court, former director of enforcement.

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