CFTC announces settlements with EnCana, Williams

08/11/2003
The US Commodity Futures Trading Commission (CFTC) announced $20 million in settlements with units of Calgary-based EnCana Corp. and Williams Cos. Inc., Tulsa, concerning accusations that their trading units sought to manipulate the US natural gas market by reporting false data to index publishers."Today's settlement is further indication of the commission's commitment to uncover and prosecute false reporting and manipulation in the markets that we oversee in an expeditious, yet thorough, manner so that wrongdoers are appropriately punished," CFTC Chairman James Newsome said in response to the EnCana deal.Neither Williams nor EnCana admitted or denied CFTC's findings.In the En...
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