FTC to begin implementing anti-manipulation policy for energy market

11/3/2009 | Reuters

The Federal Trade Commission is set to implement a rule that would impose fines of as much as $1 million a day on energy traders and companies caught manipulating oil markets. False statements related to pricing or petroleum output, fraudulent data and so-called "wash sales" are among the possible violations. The policy may prompt businesses to reconsider disclosing their cash oil deals to price-reporting groups, an antitrust lawyer said.

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