Mr. Orlan Johnson

Chairman, Securities Investor Protection Corporation

GLG News by Mr. Orlan Johnson, Chairman

Analyses are solely the work of the authors and have not been edited or endorsed by GLG.

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Potential Fines and Penalties for Energy Transfer Partners

November 12, 2007

Analysis of:Is Enron Saga Entering The Final Chapter | news.glgroup.com

A clear understanding of this area of the law has become critical because the risks from noncompliance can subject an entire entity, including upper management, to significant fines ($1 million per day/ per violation), criminal penalties and disgorgement of undue profits. Many energy entities need to update and in some case create substantive compliance programs to the new powers granted FERC in the Energy Policy Act of 2005. FERC has recently begun to assess the first round of fines and penalties on entities that it determines are not demonstrating a "culture of compliance."

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