Feds probe JPMorgan over energy bidding

John Moore/Getty Images

NEW YORK JPMorgan (JPM) says federal energy regulators are investigating some of its bidding practices in power markets.

In a filing with the Securities and Exchange Commission on Wednesday, JPMorgan Chase & Co. says it received a "Wells-type" notice from the Federal Energy Regulatory Commission in March.

FERC said it may bring action against J.P. Morgan Ventures Energy Corp., JPMorgan Chase & Co. and some of its personnel.

JPMorgan says the agency concluded that its J.P. Morgan Energy Ventures unit had submitted misleading information in response to a FERC investigation.

Comments

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Market News

Stock Watchlist