Ferc targets power market gaming with JP Morgan fine
A mammoth $410 million settlement between JP Morgan and the US Federal Energy Regulatory Commission (Ferc) shows the agency is taking a hard line against power trading strategies designed to exploit flaws in market design, which previously might have been considered within the limits of legal behaviour and gone unpunished, say compliance specialists and former Ferc officials.
In the July 30 settlement, JP Morgan agreed to pay a $285 million fine and return $125 million in disgorged profits to
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