FERC Suspends JPMorgan's Market-Based Rate Authorization

Law360, New York (November 15, 2012, 1:45 PM EST) -- Federal energy regulators on Wednesday suspended a JPMorgan Chase & Co. energy unit's authorization to sell electricity and other services at market rates for allegedly submitting false information during a dispute with California’s regional transmission organization, despite the company's insistence that it was an honest mistake.

The Federal Energy Regulatory Commission suspended JPMorgan Ventures Energy Corp. from selling electricity at market-based rates for six months starting April 1, 2013, after determining that the company made factual misrepresentations and omitted material information over several months of communications...
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