Markets Wired

The Federal Trade Commission is seeking public comment on whether to make changes to its Prohibition of Energy Market Manipulation Rule, as part of the agency’s systematic review of all current FTC rules and guides.

As authorized by the Energy Independence and Security Act of 2007, in 2009, the Commission issued the Prohibition of Energy Market Manipulation Rule. The rule prohibits fraudulent or deceptive conduct in connection with wholesale purchases or sales of crude oil, gasoline, or petroleum distillates. The Commission also published a Guide to Complying with Petroleum Market Manipulation Regulations, which explains key terms and provides examples of prohibited conduct.

In a Federal Register notice, the FTC is seeking comments on the rule’s costs and benefits, the need for the rule, any recommended changes to the rule, the rule’s impact on the flow of truthful and deceptive information to consumers, and other issues related to the implementation of the rule.

The Commission vote to approve publication of the Proposed Rule in the Federal Register was 5-0. It will be published in the Register shortly. Instructions for submitting comments appear in the published document. The FTC will consider all timely and responsive public comments it receives in accordance with those instructions. Once processed, comments will be posted on Regulations.gov.