To the casual observer it might seem like the whole world has gone on a big energy markets regulation kick. Speculators are under scrutiny in the US and the UK, and now it seems that carrying on in a fraudulent way in oil and related markets is officially a very, very bad thing to do in the US.
Yes, we thought it already was illegal too, but apparently not. The US Federal Trade Commission has issued a final ruling that, under the 2007 Energy Independence and Security Act, it will indeed prohibit fraudulent activity in gasoline, crude or distillate markets. This includes submitting fraudulent information on said markets to government agencies, or deliberately withholding information with a view to manipulating the markets.


