INTERNATIONAL ENERGY CREDIT ASSOCIATION
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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 Mexico Working Group, Canadian Derivatives Regulatory Working Group, Contract Provision Review Working Group, Dodd-Frank Working Group, Alberta Capacity Market Working Group, and Bankruptcy and Creditor’s Rights Working Group. If you are interested in joining or learning more about a specific working group, please contact us.
Regional Groups
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 email bankruptcy@ieca.net 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 or BCR.
Mission/Purpose:
As the Canadian securities regulators rulemaking process continue to progress to the proposing of new model provincial rules to regulate over-the-counter (OTC) derivatives and these model provincial rules become finalized by the different Canadian provinces pursuant to their individual provincial legislative authority, this IECA Canadian Derivatives Regulatory Working Group intends to raise the common concerns relating to these new proposed rules that could significantly impact the IECA membership to Canadian securities regulators.
As Canadian securities regulators are not solely responsible for Canada meeting its G20 commitments regarding the oversight of OTC derivatives in Canada, the Working Group will also follow any regulatory developments by the Bank of Canada to oversee the OTC derivatives market and any amendments to the Bank Act by the Canadian Federal Department of Finance to create explicit regulation-making authority over banks that trade standard derivatives.
For more information about the Canadian Derivatives Regulatory Working Group, contact us.
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 on of the most popular member benefit 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). In addition, a nominal annual fee of $150 for members, and $1,000 for non-members will be required to participate effectively for 2022. 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 for 2022 or when you join as a new member.
If you are NOT a current 2022 IECA member ($1,000 fee for the CRWG subscription), please join the IECA if you would like to join the IECA to maintain the member price of $150, reducing this cost by $425-$475. 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.) You will receive a calendar invite from Phil Lookadoo, Chair of the CLEG CRWG. If you have any questions, please contact Jessica Hall at jhall@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 Dodd-Frank 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, please contact Phil Lookadoo, KC Hairston or Wendy Lewis.
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 Alayna Jarvis at Alayna.Jarvis@talenenergy.com.
Mission/Purpose:
The Contract Provision Review (CPR) Working Group holds regularly scheduled 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 plans to index 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 Nicole Russell.
Do you have provisions that you would like the CPR Working Group to review or discuss? Submit them by clicking HERE to be considered for potential inclusion on the agenda for a future CPR conference call.
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.
This working group is Co-Chaired by Phil Lookadoo (Haynes and Boone, LLP) and Victor Ureta (Acclaim Energy Advisors). If you have any questions about the KYC working group, please contact Phil or Victor for more information.
Mission/Purpose:
With the open markets developing from the Mexico Energy Reform, the International Energy Credit Association (IECA) has decided to form a new working group for Mexico, which will be called the IECA Mexico Energy Working Group and, in Spanish, the IECA Grupo de Trabajo de Energía de Mexico (Mexico Working Group).
Building on the successful model established by the IECA’s Dodd-Frank Working Group in the US and the IECA’s Canadian Derivatives Working Group in Canada, this Mexico Working Group will look for opportunities to create an educational environment for domestic and foreign energy industry companies and individual professionals doing business in Mexico. The Mexico Working Group will seek to develop a knowledge base comparable to IECA’s mission in the US and Canada regarding the energy market features that different energy market participants require for viable and enforceable physical and financial commodity transactions for the Mexican energy markets.
For more information about the Mexico Energy Working Group or to be added to the group’s monthly calls, please contact Eduardo Corzo or Victor Ureta.
INTERNATIONAL ENERGY CREDIT ASSOCIATION
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