The energy markets are highly regulated, and producers, transmitters, and consumers of energy all use the highly regulated derivatives markets to hedge their energy risks. How do the Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC) respond when there are price disruptions, like with Winter Storm Uri, or evidence of manipulation or other potential wrongdoing in those markets? Listen as our partners and former senior FERC and CFTC regulators David Applebaum and Joshua Sterling share their views on how those agencies bring enforcement actions and how they will seek to address climate change and other issues relevant to the energy markets.
As the infamous college admissions scandal unraveled, it became clear that aside from the illegal activities of the defendants – who included the principal of an admissions consulting firm, coaches and staff at certain universities, and the parents of college applicants – the case exposed potential problem areas for academic institutions related to their compliance protocols, internal controls, and the overall monitoring of the admissions process.
“Operation Varsity Blues,” was handled by the Office of the U.S. Attorney for the District of Massachusetts, under the leadership of then-U.S. Attorney Andrew Lelling. Now an Investigations & White Collar partner based in Jones Day’s Boston Office, Mr. Lelling shares his perspectives on what made the Operation Varsity Blues investigation so successful and impactful and explains the lessons and insights universities, colleges and other organizations should consider in reacting to this scandal and preparing to avoid the next.
Cybersecurity risk is evolving and expanding. Traditionally, cybersecurity risk has been equated with cyber attacks and associated legal consequences. That risk is undoubtedly real: All internet connected systems remain vulnerable to increasingly sophisticated, persistent threat actors, including nation states and well-funded criminal organizations, who can circumvent even robust defenses to intrude into systems and expose companies to a wide variety of regulatory investigations and litigation. But companies increasingly face cybersecurity legal risk even absent a data breach. Emerging theories of liability – largely arising from inconsistencies between representations companies make about their cybersecurity and their actual cybersecurity posture – are presenting new, substantial civil and potentially criminal legal exposures for companies.
In the first installment of a multi-part JONES DAY TALKS® series, partners Lisa Ropple, Justin Herdman, and Grayson Yeargin discuss today’s rapidly growing and changing cybersecurity requirements, and the potential legal consequences of not meeting those obligations.
The European Central Bank’s decision to establish a Climate Change Center and invest in a green bond fund launched by the Bank for International Settlements reflects the growing importance of climate change, and ESG more broadly, in ECB policy. The ECB’s focus on climate change and sustainable finance will only grow as the EU’s Sustainable Finance Action Plan continues to advance.
Jones Day’s Linda Hesse and Dr. Michael Fischer discuss the Bank’s aim to reorient capital flows around a more sustainable economy while managing the financial risks brought by climate change.
In an effort to uncover and prosecute unlawful actions in the derivatives and futures markets, the U.S. Commodity Futures Trading Commission (“CFTC”) and U.S. Department of Justice (“DOJ”) have in recent years engaged in unprecedented levels of cooperation. Jones Day partners Josh Sterling and Brian Rabbitt discuss the DOJ / CFTC commodities fraud task force initiative, the role of data analytics, recent notable cases, and what market participants should know about the importance of full disclosure and transparency during an investigation.
The Commodity Futures Trading Commission, or CFTC, has broad regulatory powers to monitor the U.S. derivatives markets, which include futures, swaps, and some options.
Jones Day partner Josh Sterling, the former Director of the CFTC’s Market Participants Division, talks about how the Commission fits into the broader regulatory framework, how it monitors fintech innovations, its climate change priorities, and what market participants can expect from the Biden administration.
In this recap of a recent Jones Day client-focused webinar, partners Harriet Territt, Eva Monard, Sean Boyce, and Rick van ‘t Hullenaar review 2020’s critical developments in U.S., EU and UK sanctions and export controls that directly impact EU, Middle Eastern and UK businesses operating in the global marketplace. These include:
- Expanded use of U.S. secondary sanctions and export controls;
- The emergence of global Magnitsky-style (human rights) sanctions regimes in the UK and EU;
- Increased pressure for more active enforcement of EU sanctions;
- The advent of an independent UK sanctions regime; and
- Growing divergence between U.S. and EU sanctions policies.
The panel then focuses on 2021, noting the key transitions occurring in the U.S., where a new administration will examine the mark left by the previous administration on U.S. sanctions and export control policy, and in the EU and UK, where the Brexit transition period ended last year. These transitions will have far-reaching implications for global trade.
Jones Day’s series on private enforcement actions relating to antitrust matters in Europe continues with a focus on recent developments in France. Partners Eric Barbier de La Serre and Ozan Akyurek discuss how proceedings typically develop in private enforcement matters, access to evidence under French law, class actions, and why French courts are receptive to these actions.
Jones Day partners Rick Puente and Chris Pace talk about what affected parties need to know about the Helms-Burton cases moving through U.S. district and appellate courts. They also comment on the current state of U.S./Cuba relations, and discuss how the Biden administration might approach dealings with the Caribbean nation.