CFTC, EPA enter MOU to share RFS data, collaborate on RIN market
March 17, 2016
BY Erin Voegele
On March 17, the U.S. Commodity Futures Trading Commission and the U.S. EPA entered a memorandum of understanding (MOU) that allows the agencies to share renewable fuel standard (RFS) data and analysis. Under the agreement, the agencies agree to cooperate and coordinate on topics related to the implementation of the RFS program and the market for renewable identification numbers (RINs).
According to the MOU, the CFTC and EPA intent to coordinate, cooperate and share information, including proprietary business information (PBI), in the possession of EPA with regard to the RIN and renewable fuels markets. The CFTC will use the information to advise EPA on techniques that could be employed to minimize fraud, market abuses or other violations, and to conduct appropriate oversight on RIN and renewable fuel markets to aid EPA in successfully fulfilling its statutory functions under RFS regulations. According to the MOU, reviewing information on the RIN and renewable fuels markets provided by EPA will increase the CFTC’s understanding of the operation of and participants in those markets.
“We are encouraged to see that EPA is coordinating and cooperating with CFTC to identify methods for improving the transparency and efficiency of the RIN market,” said Bob Dinneen, president and CEO of the Renewable Fuels Association. “For several years, RFA, members of Congress, and other stakeholders with an interest in the success of the RFS have been requesting that EPA coordinate with CFTC to take steps to prevent manipulation and increase transparency in the RIN market. Through this agreement, we believe CFTC will provide valuable expertise and insight that will improve the functionality and clarity of the RIN system for all market participants and the public.”
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A full copy of the MOU can be downloaded from the EPA website.
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