FERC Mulls Market Manipulation Action Against JPMorgan

Law360, New York (May 8, 2013, 9:18 PM EDT) -- The Federal Energy Regulatory Commission is considering a possible enforcement action against JPMorgan Chase & Co. related to a probe into a JPMorgan energy unit’s alleged electricity market manipulation in California and the Midwest, the banking giant said Wednesday.

According the firm’s announcement, revealed in a U.S. Securities and Exchange Commission filing, FERC had sent it a “Wells-type” notice — referring to the so-called Wells notices issued by the SEC prior to filing a civil action — in March, indicating that the commission's staff would recommend...
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