This morning investors in Amaranth Advisors received a letter from Nick Maounis announcing of an amicable settlement of the regulatory proceedings brought by both the U.S. Commodity Futures Trading Commission and the U.S. Federal Energy Regulatory Commission.
Following this settlement, gas trader Brian Hunter is the last man standing in this case. While Amaranth’s top dog Nick Maounis reportedly believes that the $6.5 billion blow up of his fund was largely Hunter’s fault, the Calgary trader is the only one fighting the regulators guys in court. Hunter and the FERC waiting to see if FERC even has jurisdiction over gas futures trading (ironically, the CFTC agrees with Hunter that FERC has no jurisdiction), and the New York based federal judge in the case is waiting for DC Circuit to rule before the CFTC action continues in his court.
Here’s the letter Maounis sent:
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