"JPMorgan Settles Energy Market-Rigging Probe for $410 Million"

"NEW YORK -- JPMorgan Chase & Co. has agreed to pay $410 million to settle allegations it manipulated energy markets in California and the Midwest."

"The Federal Energy Regulatory Commission, which announced the settlement early Tuesday, said the sum included $285 million in civil penalties JPMorgan would pay to the U.S. Treasury.

Nearly all of the remainder -- $124 million in unjust profits -- would go toward ratepayers in California's grid operator, the California Independent System Operator, FERC said."

Andrew Tangel reports for the Los Angeles Times July 30, 2013.


"JPMorgan Looks to Pay to Settle U.S. Inquiries" (New York Times)

Source: LA Times, 07/31/2013