Ex-Amaranth Trader Backed by CFTC in $30 Million FERC Case
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A former natural gas trader at Amaranth Advisors LLC is being backed by the U.S. Commodity Futures Trading Commission in a court challenge to a $30 million fine imposed by the Federal Energy Regulatory Commission.
The CFTC said in a filing yesterday in the U.S. Court of Appeals in Washington that FERC lacks authority to punish Brian Hunter for allegedly manipulating the gas futures market in 2006.