The Enforcement Insider Podcast

CFTC Crackdown: TotalEnergies’ $48M Penalty

Baker Botts Partners and hosts Brendan Quigley and Michael Loesch discuss two critical CFTC enforcement issues: cross-market manipulation and cooperation credit in investigations. They examine the recent case against TotalEnergies, which faced allegations of attempted manipulation in the European gasoline markets, resulting in a $48 million penalty and a cease-and-desist order.

CFTC Brings First Action for Impeding Whistleblowers and Continues Insider Trading and Manipulation Focus

In this episode of Enforcement Insider, hosts and Baker Botts Partners Brendan Quigley and Michael Loesch dive into a recently settled CFTC case surrounding three core violations including manipulation in the fuel oil markets, trading while in possession of misappropriated material nonpublic information, and impeding whistleblower communications.

Recent Insider Trading Developments

Baker Botts Partners and hosts Brendan Quigley and Michael Loesch discuss the implications of the recent “shadow” insider trading case brought by the SEC and what it means for insider-trading enforcement going forward. In particular, Brendan and Michael discuss how the company insider-trading policy at issue in the case affected the charges and what that means for companies going forward.

2022 Client Alert on the same case.

Current Issues in Sanctions and Export Controls in Compliance

Baker Botts Partner Joyce Adetutu joins hosts Brendan Quigley and Michael Loesch to discuss current issues, sanctions and export controls in compliance Joyce focuses her practice on complex legal regimes governing the international trade of goods, technology and services as well as cross border investments.

This is a topic that has gotten the attention of the government over the last number of years so activities and potential penalties have ramped up on both the civil and governmental side of the issues.

FERC Investigations Outlook; SEC Climate Disclosure Rule

Brendan Quigley and Michael Loesch are joined by new Baker Botts partner and former FERC Director of Investigations David Applebaum to discuss the latest trends in FERC Enforcement and the SEC’s climate disclosure rule.

Client Alerts:
FERC Modifies its Process for Resolving Enforcement Investigations by Settlement, Giving Enforcement Staff More Authority and Discretion

SEC Adopts Final Rules Requiring Disclosures of Climate-Related Risks, Financial Impacts, and Greenhouse Gas Emissions

Are Compliance Officers in the Crosshairs?

Recently the SEC, the CFTC, and FINRA have all brought enforcement actions against compliance officers. In addition, SEC Enforcement Director Gurbir S. Grewal gave a speech back in October at the New York City Bar Compliance Institute in which he discussed at some length, the criteria, the SEC uses to decide whether to bring enforcement actions against CCOs. Hosts Michael Loesch and Brendan Quigley discuss whether they think compliance officers are back in the crosshairs. 

Fiscal Year-End Trends and CFTC Enforcement Advisory on Penalties, Monitors and Admissions

During this episode, hosts Michael Loesch and Brendan Quigley invite Baker Botts Partner Bridget Moore to discuss fiscal year-end enforcement trends for the SEC, CFTC and DOJ. They also cover a recent CFTC enforcement advisory on penalties, monitors and admissions announced by CFTC Director of Enforcement, Ian McGinley, as well as implications for corporate compliance programs.

CFTC Press Release

The CFTC’s Recent Recordkeeping Cases, and the Compliance Challenges Posed by AI

In this episode, partners Michael Loesch and Brendan Quigley discuss further activity and substantial penalties in CFTC recordkeeping and communications cases involving third party vendor failures. Brendan and Michael are also joined by firm partner Michael Ward to cover the disruption that is artificial intelligence (AI) and what that means to company compliance officers.

For more information please visit bakerbotts.com/services/practice-areas/artificial-intelligence-ai or bakerbotts.com/services/practice-areas/enforcements-and-investigations.