JP Morgan agrees to $410m in penalties plus disgorgement

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The Federal Energy Regulatory Commission (FERC) Tuesday approved a stipulation and consent agreement under which JP Morgan Ventures Energy Corporation (JPMVEC) will pay $410m in penalties and disgorgement to ratepayers for allegations of market manipulation stemming from the company’s bidding activities in electricity markets in California and the Midwest from September 2010 through November 2012.

FERC Suspends JP Morgan For 6 Months

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The Federal Energy Regulatory Commission has suspended the electric market-based rate authority of JP Morgan Ventures Energy Corp. for submitting false information to the Commission.