Amaranth report to ring changes
Release of report into collapse of energy hedge fund Amaranth Advisors looks set to change the way OTC markets operate in the US
The nine-month investigation into the collapse of the Amaranth hedge fund, after it lost US$6.6 billion in natural gas trades in 2006, calls for more powers to be granted to the Commodity Futures Trading Commission (CFTC) to police markets.
“Current commodity laws are riddled with exemptions, exclusions, and limitations that make it virtually impossible for regulators to police US energy markets, particularly the Enron loophole,” said Democratic senator Carl Levin, in reference to Enron’s
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