“(Reuters) – U.S. electricity regulators are expected to impose a $1.5 million fine as early as Tuesday on a Deutsche Bank AG subsidiary over alleged power market manipulation, the Wall Street Journal reported, citing people with knowledge of the matter.
The Federal Energy Regulatory Commission (FERC) earlier proposed that the energy-trading arm of Deutsche pay the fine and disgorgement of $123,198 in alleged ill-gotten profits last year, saying it manipulated California power prices.
Last week, the FERC requested a further extension in the legal deadline until January 22 amid the ongoing talks. (http://link.reuters.com/tej45t)
Deutsche Bank has disputed FERC’s allegation that it manipulated the market by deliberately losing money on physical transactions to profit in derivative markets…”
If you enjoy the content at iBankCoin, please follow us on Twitter
