“WASHINGTON—U.S. energy-market regulators Wednesday handed J.P. Morgan Chase JPM -1.91% & Co.’s energy-trading unit a six-month suspension from some of its activities in electricity markets, the latest in a string of clashes with Wall Street.
The Federal Energy Regulatory Commission cited false information it has said the company submitted as part of a probe into alleged market manipulation.
It was a rare move for the commission and another signal that it is trying to assert itself as a regulatory heavy hitter. The agency, which oversees transmission lines and natural-gas pipelines, also recently proposed a record penalty of nearly $470 million against Barclays BARC.LN +1.24% PLC for alleged market manipulation. Barclays denies the charges.
The last time the commission took away a company’s market privileges broadly, rather than in limited geographic areas, was when it revoked the privileges of Enron Corp., a FERC official said.”
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