JPMorgan Energy Traders May Face FERC Case, N.Y. Times Says
This article is for subscribers only.
JPMorgan Chase & Co. was warned by U.S. energy-market authorities that they may take action against its employees as part of an inquiry into bidding practices, the New York Times said, citing a document it reviewed.
Enforcement officials at the Federal Energy Regulatory Commission plan to recommend the agency hold traders and commodities-unit chief Blythe Masters "individually liable," the newspaper reported, citing a 70-page document the agency sent the New York-based bank in March. Investigators said Masters falsely denied awareness of problems, the Times said.