FERC Asks Court To Enforce $488M Order Against Barclays

Law360, New York (October 10, 2013, 3:13 PM EDT) -- The Federal Energy Regulatory Commission asked a California federal judge Wednesday to enforce an order the agency handed down in July levying $488 million in fines and disgorgement against Barclays Bank PLC and four of its traders for allegedly manipulating energy prices in the Western U.S.

In a 25-page petition, the agency requested that the court affirm the penalties because the bank and the four individuals had failed to pay the fines within 60 days as required by the Federal Power Act.

“The commission seeks ......
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