Deutsche Bank Pays FERC $1.7M, Despite Litigation Threat

Law360, New York (January 22, 2013, 4:08 PM EST) -- A Deutsche Bank AG energy trading unit on Tuesday agreed to pay nearly $1.7 million to settle Federal Energy Regulatory Commission allegations that it manipulated electricity prices in California, backing down from its threat to take the regulator to court over the claims.

According to a FERC order approving the settlement, Deutsche Bank Energy Trading LLC will pay a $1.5 million fine to the regulator and disgorge profits of $172,000 to California electricity market participants to end claims that it had used bogus physical power trades...
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