The Federal Energy Regulatory Commission has proposed a fine of $30m (€22m) for Brian Hunter, the former natural gas trader at collapsed hedge fund Amaranth Advisors and $259m against his ex-employer.

Amaranth, one of the largest hedge funds in the natural gas market, collapsed in 2006 when it's natural gas positions lost over $2bn in value between the last week in August and the middle of September, precipitating the liquidation of the entire $8bn portfolio. Until September 2006, Hunter was co-head of the trading desk for commodity derivatives.