OAR 340-273-0500: Trading of Compliance Instruments

(1) Covered entities may trade one or more compliance instruments only according to this rule. A covered entity may transfer one or more compliance instruments to another covered entity up to the amount that it has available and has not used to demonstrate compliance. A covered entity may acquire one or more compliance instruments from another covered entity. (2) Covered entities may not trade fractions of a compliance instrument. All compliance instrument trades must be of whole compliance instruments. (3) Covered entities may not engage in a trade of a compliance instrument involving, related to, in service of, or associated with any of the following: (a) Fraud, or an attempt to defraud or deceive using any device, scheme or artifice; (b) Use of any unconscionable tactic in connection with the transfer, by any person; (c) Any false report, record, or untrue statement of material fact or omission of a material fact related to the transfer or conditions that would relate to the value of the compliance instrument being traded. A fact is material if it is reasonably likely to influence a decision by another person or by DEQ; (d) Any activity intended to lessen competition or tend to create a monopoly, or to injure, destroy or prevent competition in the market for compliance instruments; (e) A conspiracy in restraint of trade or commerce; or (f) An attempt to monopolize holding of compliance instruments, or to combine, collude, or conspire with any other person or persons to monopolize.