Join Leading Regulators and Energy Compliance Executives as They Present In-Depth Reviews of Industry Best Practices and Innovative Strategies for FERC and CFTC Compliance
Don't Miss the Two Pre-Summit Workshops:
#1 - Establishing a NERC Compliance Program
#2 - Establishing an Energy Trading Compliance Program
Get the latest updates on:
- Current developments in investigation, audits, and enforcement
- Meeting NERC reliability requirements
- Compliance systems for gas and electricity trading
- What to do if you are faced with an audit or investigation
- Steps you can take to mitigate enforcement actions
An effective compliance system is your best defense against the wave of
actions regarding both alleged energy trading and electric reliability violations
and this has never been more important, as the era of enhanced FERC
enforcement has begun. According to FERC’s 2008 Report on Enforcement,
2008 saw a significant increase in activities, with self-reporting more than
doubling and the Office of Enforcement opening a higher number of nonpublic
investigations than in 2007—and this trend is expected to continue
in 2009. Beyond this, the “Enron Loophole” has been closed, creating more
reporting obligations; Critical Infrastructure Protection is taking on greater
importance in the wake of press reports of penetration by foreign entities; and
new leadership at both FERC and CFTC is likely to put their own stamp on
investigations and enforcement.
FERC entered into seven settlement agreements in 2008, totaling more than $20 million in penalties. However, having demonstrated a compliance program and a serious commitment to it have proven effective in mitigating settlements—75% of self-reports made to date were closed without any formal action or penalty assessment.
The FERC Compliance Summit will assemble leading regulators, legal advisors, and energy company compliance executives to discuss the latest developments regarding market and reliability compliance enforcement and offer concrete guidance on dealing with compliance audits and investigations. They will provide you with updates on evolving FERC, NERC and CFTC regulatory structures, new rules regarding market manipulation and Critical Infrastructure Protection, and will present in-depth reviews of best practices in internal review and reporting, data collection and management, and establishing ongoing compliance systems for both electricity providers and energy trading organizations.