FERC Fines Barclays Bank for Electricity Market Manipulation

FERC has directed Barclays Bank and four of its former traders to pay a civil penalty of $453 million to the U.S. Treasury for electricity market manipulation in the western U.S. On July 16, 2013, the Federal Energy Regulatory Commission (FERC) imposed civil penalties of $435 million on London-based Barclays Bank PLC and $18 million to four…