FERC Says JPMorgan Unit Can't Withhold Emails In Bid Probe

Law360, Washington (July 17, 2012, 7:14 PM EDT) -- The Federal Energy Regulatory Commission on Tuesday slammed JPMorgan Venture Energy Corp.'s attempts to withhold requested emails from a probe over electricity market manipulation via bidding practices, saying the company's attorney-client privilege claims to shut out the regulator weren't credible.

FERC said it was investigating JPMorgan's possible manipulation of the electricity markets by extracting excessive payments at above-market prices that enabled more than $73 million in improper payments, and that part of that probe includes sifting through company emails.

The commission initially requested 53 emails from...
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