JPMorgan says it faces possible action by U.S. energy regulator

Wed May 8, 2013 9:42pm BST

May 8 (Reuters) - JPMorgan Chase & Co said the company and some of its personnel face a possible enforcement action by the Federal Energy Regulatory Commission over bidding practices in certain markets.

The company said it had received a notice in March that the FERC staff intends to recommend the action by commission. The company included the disclosure in a quarterly filing with the U.S. Securities and Exchange Commission on Wednesday.

Last week, the New York Times cited a confidential document from FERC when it reported U.S. government investigators had found evidence that a JPMorgan unit manipulated trading in the California and Michigan electricity markets.

Source: http://uk.reuters.com/article/2013/05/08/jpmorgan-ferc-idUKL2N0DP2UF20130508?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

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