The Federal Trade Commission (FTC) staff will host a workshop on Thursday, November 6, 2008, to discuss the FTC’s proposed petroleum industry market manipulation rule and the comments received in response to the Notice of Proposed Rulemaking (NPRM). This event is free and open to the public, and no pre-registration is necessary.
The workshop will bring together industry representatives, government officials, academics, and consumer advocates to focus on issues and concerns arising from the proposed rule. Workshop participants, selected from those who applied to participate and also submitted a comment in response to the NPRM, will discuss the basis for and the contours of the proposed Rule; the element of scienter and the recklessness standard proposed by the Commission to satisfy the scienter element; and the Commission’s decision not to require a showing of price effects in order to establish a violation of the proposed rule. Members of the general public who attend the workshop may have an opportunity to make brief oral statements presenting their views on issues raised in the NPRM. Oral statements by members of the general public will be limited on the basis of the time available and the number of persons who wish to make statements. The Commission will consider the views expressed at the workshop, along with previously submitted comments, in determining the desirability of promulgating a market manipulation rule and the format and content of any such rule.