JPMorgan Says Energy Watchdog May Seek to Punish Units, Workers
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JPMorgan Chase & Co., the biggest U.S. bank, was warned by federal energy-market regulators that its personnel and two subsidiaries may face claims stemming from a probe into bidding practices.
Federal Energy Regulatory Commission staff told JPMorgan in March they may recommend the agency bring an enforcement case, the New York-based company said yesterday in a regulatory filing. Claims may include “alleged violations of FERC rules and the rules of certain independent system operators,” the lender said, without elaborating on the allegations.