JPMorgan Could Pay $1B To End FERC Energy-Pricing Probe

Law360, New York (July 17, 2013, 5:45 PM EDT) -- JPMorgan Chase & Co. and the Federal Energy Regulatory Commission are nearing a deal over alleged electricity market manipulation in California and the Midwest that could see the banking giant shell out $500 million to $1 billion, according to multiple reports Wednesday.

Word of the potential deal came one day after FERC slapped Barclays PLC with a record-breaking $435 million fine for allegedly manipulating energy markets in the western U.S.

Spokesmen for FERC and JPMorgan declined to comment on the reports Wednesday.

The New York Times...
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