INTERNATIONAL ENERGY CREDIT ASSOCIATION
Be Informed. Stay Connected.

Working Groups

To explore specific industry issues in-depth, the IECA has several working groups following and digesting key developments and providing regular updates to members.

Current working groups include the Bankruptcy and Creditor’s Right Working Group, Canadian Derivatives Regulatory Working Group, Commodity Regulatory Working Group, Contract Administration Working Group, Contract Provision Review Working Group, and Know Your Customer (KYC) Working Group. If you are interested in joining or learning more about a specific working group, please contact us.

Working Groups

Bankruptcy and Creditor's Rights Working Group

Mission/Purpose:

The Bankruptcy and Creditor’s Rights (BCR) Working Group holds regularly scheduled calls to discuss recent events and topics of general interest along with addressing questions forwarded to the dedicated e-mail address. The BCR Working Group also provides alerts to CLEG members regarding developments and decisions in the bankruptcy and restructuring arena relevant to the energy industry.

Many of our CLEG members, especially in today’s climate, are confronted with bankruptcy and creditor’s rights issues consistently. Our hope continues to be to bring together the various contract, credit and legal professionals with the expertise, need and/or desire to contribute to an ongoing discussion that offers a full spectrum of views on bankruptcy and creditor’s rights related issues.

We strongly encourage members to contact us with questions or issues of interest. If you would like to join or participate in the BCR, please contact the IECA office at info@ieca.net stating that you want to join or participate in the Bankruptcy and Creditor’s Rights Working Group.

Canadian Derivatives Regulatory Working Group

Mission/Purpose:

The Canadian Derivatives Regulatory Work Group holds regularly scheduled calls to discuss Canadian derivatives law and regulatory developments. The group also publishes forms that can be used to address Canadian derivatives regulatory issues such as the IECA Canadian Reporting Letter for Derivatives Data Reporting and the IECA Canadian Derivatives Reporting Counterparty Agreement.

Commodity Regulatory Working Group (Formerly the Dodd-Frank Working Group)

Mission/Purpose:

The IECA Dodd-Frank Working Group is now the Commodity Regulatory Working Group (CRWG)!

The IECA’s Contract and Legal Education Group (CLEG)’s Dodd-Frank Working Group is one of the most popular member benefits of the IECA to date. This group is responsible for producing a number of documents to help the IECA members address their Dodd-Frank related obligations including the IECA Amendment Adopting, Incorporating and Amending ISDA® August 2012 DF Supplement, Incorporating and Amending the ISDA® March 2013 DF Supplement, IECA Dodd-Frank Act Representations And Reporting Amending Agreement, IECA Amendment Adopting, Incorporating and Amending the ISDA® DF Protocol Extension: EMIR Protocol Reconciliation, Dispute Resolution and Disclosure, the NEW Bilateral QFC Amendment and more. Further, the CRWG continues to actively monitor and participate in various initiatives being undertaken by ISDA® including its Resolution Stay Protocol.

Since these topics and discussions range beyond Dodd-Frank issues, we have decided to rename the group to the Commodity Regulatory Working Group (CRWG). To join, it nominal annual fee of $150 for members. Your CRWG subscription will provide access to the private weekly Friday calls, regulatory issue advice, group communications, relative industry forms and more. You will have the option to add this fee when you renew your IECA dues or when you join as a new member.

If you are NOT a current IECA member, please join the IECA to participate in the CRWG at the member price of $150. Please note online payments MUST be received by 12 p.m. ET on Wednesdays in order to participate in that week’s Friday call. (Payments received after 12 p.m. on Wednesdays will be added to the FOLLOWING week’s Friday call.) Each week, you will receive a calendar invite from Phil Lookadoo, Chair of the CLEG CRWG. If you have any questions, please contact info@ieca.net.

The IECA’s CRWG provides a continuing education service to the IECA’s members by providing a weekly update call every Friday morning and periodic email updates during the week. If you would like to join our efforts, whether simply to keep up on Commodity Regulatory developments affecting the energy industry or to actively participate in our efforts to ensure that regulatory and transactional developments recognize the interests of energy companies.

Contract Administration Working Group

The IECA Contract Administration Working Group provides information via monthly calls to discuss workflow and professional development topics unique to Contract Administration along with opportunities to network with other Contract Administrators.

If you have questions about the IECA CLEG Contract Admin Working Group, please contact us at info@ieca.net.

Contract Provision Review Working Group

Mission/Purpose:

The Contract Provision Review (CPR) Working Group holds bimonthly calls to review and discuss the pros and cons of certain contract provisions identified by members. Many CLEG members routinely work on contracts with limited ability to benchmark their reviews with others. To promote coordination and collaboration among industry professionals, the CPR Working Group hopes to create a diverse team of contract and legal personnel that can contribute to an ongoing discussion that offers a full spectrum of views on provisions reviewed by the group.

Prior to each call, CPR Working Group members can submit contract provisions that they are working on (or have worked on since the last call) that they would like to propose for group review and discussion. In addition, time will be reserved on each call for a general discussion on provisions that were not provided in advance.

The Working Group indexes each provision discussed by its members along with pros, cons and any recommended variations for consideration. Over time, the end result is expected to be an online resource (available only to CPR working group members) of all the provisions reviewed and related discussions organized by contract type (e.g., 1992 ISDA, 2002 ISDA, EEI, NAESB, etc.) and the type of provision (e.g., Cross Default, Set Off, etc.). The goal is for this contract provision database to become a useful resource for CPR Working Group members in reviewing and negotiating similar provisions in their company’s various trading agreements. If you would like more information or to join, please contact us at info@ieca.net.

Know Your Customer (KYC) Working Group

The KYC (“Know Your Customer”) working group started in June of 2018 with the objective of providing the IECA members a guide on best practices, changing industry standards, and one or more checklists of the multiple issues to be considered when performing a company’s KYC and Customer Onboarding processes. This Working Group is a collaboration between IECA’s Contracts and Legal Education Group (CLEG) and IECA’s Credit Analytics Education Group (CAEG). During the KYC working group’s monthly calls, the members of the Working Group have been addressing multiple issues, including prohibitions of Funding Terrorism, Anti-Money Laundering (AML), and Fraud, as well as potential liabilities arising from changing Data Protection Rules and Cyber Security Concerns. The KYC working group is now working on compiling our research and drafting a whitepaper for the IECA membership.

For more information, contact us at info@ieca.net.

Antitrust Compliance Statement