WASHINGTON — The Commodity Futures Trading Commission is seeking to compel McGraw-Hill Cos. to turn over data that one of its publications collected from a natural gas company being investigated by the agency.
The agency, which has been stymied for two years by McGraw-Hill in a separate case, asked the U.S. District Court for the District of Columbia on Thursday to enforce a subpoena it issued in April to the publisher, which has refused to comply, citing journalistic privilege.
Gregory Mocek, director of the CFTC’s division of enforcement, would not reveal the name of the company being investigated but he said the CFTC has evidence that its traders submitted false data to the publisher.
Inside F.E.R.C., which is published by Platts, a McGraw-Hill division, produces a monthly report on the natural gas market that is based on trading data provided by companies. That report is widely read by natural gas traders and can influence prices, potentially affecting billions of dollars worth of transactions, according to Mocek.
Source: Lincoln Journal Star
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