FERC and JPMorgan reportedly work toward $410M deal

The Federal Energy Regulatory Commission and JPMorgan Chase are approaching a $410 million settlement to resolve an allegation that the bank manipulated California and Midwestern energy markets, sources say. The deal reportedly would force JPMorgan to give up $200 million in claims from California buyers of electricity. FERC would not sanction three traders initially targeted or JPMorgan commodity chief Blythe Masters, sources say.

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