JPMorgan Agrees to $410 Million Fine for Electricity Market Manipulation

JPMorgan Chase & Co. has accepted a $410 million penalty to settle accusations of electricity market manipulations in California and the Midwest. On July 30, 2013, the Federal Energy Regulatory Commission (FERC) issued an order approving stipulation and consent agreement that requires JPMorgan Ventures Energy Corporation (JPMVEC) to settle allegations of electricity market manipulation in…