Reuters: Regulatory News: JPMorgan says it faces possible action by U.S. energy regulator

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JPMorgan says it faces possible action by U.S. energy regulator May 8th 2013, 20:42 Wed May 8, 2013 4:42pm EDT May 8 (Reuters) - JPMorgan Chase & Co said the company and some of its personnel face a possible enforcement action by the Federal Energy Regulatory Commission over bidding practices in certain markets. The company said it had received a notice in March that the FERC staff intends to recommend the action by commission. The company included the disclosure in a quarterly filing with the U.S. Securities and Exchange Commission on Wednesday. Last week, the New York Times cited a confidential document from FERC when it reported U.S. government investigators had found evidence that a JPMorgan unit manipulated trading in the California and Michigan electricity markets.

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