Conduct and Compliance in Energy and Commodity Trading Across the EU, UK, and US

📝Editor’s Note

Compliance teams across many sectors are facing a new pressure point: regulation is expanding faster than internal control systems. In the past week, several regulators across the U.S., U.K., and EU signaled stronger oversight on market conduct and technology governance. The question for many compliance leaders now is simple. Are current frameworks built for modern market complexity, or are they still based on rules designed for a different era?

📊Featured Analysis

Conduct and Compliance in Energy and Commodity Trading Across the EU, UK, and US

Energy and commodity trading operates under multiple regulatory systems, and compliance expectations differ across the European Union, United Kingdom, and United States. Each jurisdiction maintains its own rules on market conduct, transparency, and reporting. In the EU, regulations such as the Regulation on Wholesale Energy Market Integrity and Transparency focus on preventing insider trading and market manipulation in energy markets.

The UK maintains similar oversight following its exit from the EU, but regulators now operate through domestic rules enforced by the Office of Gas and Electricity Markets. In the United States, enforcement falls under agencies such as the Federal Energy Regulatory Commission, which monitors market manipulation and requires detailed reporting from trading firms.

These systems share common goals, including market transparency and fair trading practices. However, the regulatory approaches differ in structure and enforcement. Companies operating across these markets must manage overlapping reporting duties, surveillance requirements, and conduct standards.

Key takeaway: Firms involved in cross-border energy and commodity trading must build compliance programs that address multiple regulatory regimes simultaneously rather than relying on a single jurisdiction’s framework.

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✅ Best Practice Spotlight

Strengthening Third-Party Risk Oversight

Third-party relationships remain one of the most common sources of compliance failures. Strong oversight requires more than basic vendor onboarding.

1. Conduct risk-based due diligence before signing contracts with vendors or partners

2. Maintain a central register of third-party relationships and associated risks

3. Use ongoing monitoring rather than one-time assessments

4. Align vendor controls with internal compliance policies

5. Include audit rights and reporting requirements in contracts

🛠️ Tool of the Week

SaaS Platforms for Enterprise Risk Management

Enterprise risk management platforms delivered through software-as-a-service models are widely used to centralize compliance and risk tracking. These systems help organizations collect risk data, monitor controls, and maintain audit records across multiple departments.

Top Tools

• Mitratech

• ComplianceQuest

• RiskWatch

• Centraleyes

• AuditBoard

• RSA Archer

• Diligent One

🌟 Leader Spotlight

OpenAI Moves Deeper into U.S. National Security Infrastructure

On 27 February, the United States Department of Defense finalized an agreement with OpenAI to deploy its artificial intelligence models inside classified government networks. The decision came shortly after the Pentagon classified Anthropic as a supply chain risk, which led to the suspension of previous partnerships and funding arrangements with that company.

The agreement points to a shift in how AI governance is handled in the United States. Earlier oversight relied heavily on voluntary corporate safety policies and industry-led guidelines. The new arrangement places AI capabilities directly within national security infrastructure, where oversight falls primarily under government control rather than external advisory groups.

📚 Recommended Reading

• Companies Face Heightened Global Compliance Risks, Even as US Pulls Back on Bribery Enforcement

• Four Data Broker Breaches Cost U.S. Consumers $20BN Over a Decade, Congress Finds

🗳️ Your Compliance Take

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