The Commodity Futures Trading Commission and the Environmental Protection Agency have entered into a Memorandum of Understanding that allows the agencies to share Renewable Fuel Standard (RFS) data and analysis, including proprietary business information.
Sharing this information, the agreement says, will allow the CFTC to review and analyze data as it advises the EPA on potential investigations into fraud and market abuses related to the generation of, and trading in, Renewable Identification Numbers (RINS), biofuel credits issued to renewable fuels subject to the EPA’s regulation or oversight. The CFTC will also use the information to assist the EPA with its statutory functions under Clean Air Act and offer techniques for minimizing fraud. Reviewing information on the RIN and renewable fuels markets provided by EPA will also increase the CFTC’s understanding of the operation of, and participants in, those markets, the MOU says.
The two agencies agreed to take steps to avoid duplicative information requests to the extent possible; coordinate, as practical, oversight, investigative, and enforcement activities of mutual interest; and periodically to review the MOU’s effectiveness, with a view to expanding or altering its scope or operation as needed and appropriate. Both agencies agreed to keep any shared nonpublic information confidential.
The MOU became effective as of the date of its signing, March 17, and may be revised, modified, or terminated upon the written agreement of the two agencies. Also, either the CFTC or EPA may terminate the MOU by providing 30 day written notice to the other party. In the event of such termination, the withdrawing