While JPMorgan Chase reportedly is negotiating a settlement with the Federal Energy Regulatory Commission, it appears likely that Blythe Masters, the head of the firm's commodities business, will not be charged separately with any wrongdoing, according to people briefed on the matter. The regulator could reconsider its decision, those people said, but appears not to be going forward with its contention that Masters made "false and misleading statements under oath."

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