Barclays Could Face $435M FERC Fine, Along With FCPA Probe

Law360, Washington (October 31, 2012, 10:26 PM EDT) -- Barclays PLC was ordered Wednesday to show why it should not be fined $435 million for alleged energy market manipulation, on the same day the bank revealed to investors that it is subject to a probe into possible Foreign Corrupt Practices Act violations.

The Federal Energy Regulatory Commission proposed the $435 million fine, as well as $34.9 million in disgorgement, and ordered the bank to show that it had not manipulated energy prices in Western states. FERC also proposed fines of $1 million each for three...
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