Reuters: Regulatory News: U.S. FERC seeks $470 mln from Barclays in manipulation case

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U.S. FERC seeks $470 mln from Barclays in manipulation case Oct 31st 2012, 22:17 WASHINGTON | Wed Oct 31, 2012 6:17pm EDT WASHINGTON Oct 31 (Reuters) - The staff of the U.S. Federal Energy Regulatory Commission has recommended that Barclays should pay roughly $470 million to settle allegations that the bank and its traders manipulated California energy markets from November 2006 to December 2008. FERC said in an order issued on Wednesday that Barclays and the accused traders have 30 days to show why they should not be penalized.

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