Barclays Can't Duck FERC Probe Of Energy Pricing Scheme

Law360, Washington (April 8, 2013, 6:17 PM EDT) -- A Federal Energy Regulatory Commission review panel on Friday refused to quash a subpoena regarding Barclays Bank PLC's alleged involvement in manipulating energy markets, saying announcing Barclays' alleged violations didn't negate the commission's ability to probe the company for additional information.

Although the commission's enforcement arm had already released a notice of Barclays' alleged violations and urged the agency to impose $470 million in penalties and disgorgement before it sought to enforce the subpoena-at-issue, FERC said its investigative authority wasn't preempted by those acts of transparency....
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