Shipkevich Bitcoin and ICO Attorney
Felix Shipkevich April 12, 2011

A new agreement between the Commodity Futures Trading Commission (CFTC) and Federal Trade Commission (FTC) will help to prevent manipulation of the energy market. The two agencies will share information, signing a Memorandum of Understanding, to cooperate on investigations being conducted, particularly on the oil and gasoline markets. The agreement will help the FTC enforce its petroleum market manipulation rule, which prohibits fraudulent manipulation of U.S. petroleum markets. Information-sharing also will help the CFTC in exercising its authority to pursue manipulation in the oil markets.

Both the FTC and CFTC have authority to take legal action to stop fraud-based manipulation of the petroleum markets. The CFTC has exclusive jurisdiction to regulate exchanges, clearing organizations and intermediaries in the U.S. futures industry. Both the FTC and the CFTC votes were unanimous in approving the understanding.

Read more about the agreement between the CFTC AND FTC.

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