Law Profs Say Barclays' $453M FERC Fine Needs Hearing
By Kelly Knaub (November 9, 2016, 4:39 PM EST) -- Several law professors have weighed in on the Federal Energy Regulatory Commission's suit to enforce a $453 million power price manipulation penalty against Barclays PLC, asking a California federal court to hear the bank and its traders before deciding FERC's request.
Twelve administrative law professors from American University's Washington College of Law, Lewis & Clark Law School, The George Washington University Law School and other schools said in an amicus brief Monday that they have "grave concerns" about the legal and policy implications of FERC's view of what constitutes a district court's "de novo review" of an agency's civil penalty assessment....
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