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FERC to suspend JP Morgan power market based rate authority
November 15, 2012 / 12:40 AM / 5 years ago

FERC to suspend JP Morgan power market based rate authority

Nov 14 (Reuters) - The U.S. Federal Energy Regulatory Commission (FERC) on Wednesday suspended the electric market-based rate authority of JPMorgan Chase & Co’s energy trading units for submitting false information to the commission.

In a release, FERC said the suspension prohibits the U.S. bank’s JP Morgan Ventures unit from selling power at market-based rates for six months effective April 1, 2013.

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