Article: JP Morgan Chase’s alleged manipulation of electricity markets detailed

Article - Media

JP Morgan Chase’s alleged manipulation of electricity markets detailed

Kevin G. Hall

McClatchyDC, 29 July 2013

The federal regulator of electricity markets on Monday accused Wall Street powerhouse JP Morgan Chase & Co. of using multiple trading strategies to manipulate electricity markets in California and the Midwest for profit.

The Federal Energy Regulatory Commission already had alleged in March that JP Morgan Chase was guilty of manipulating energy markets in California and the Midwest. But late Monday, after the close of financial markets, the agency made public the details in a Staff Notice of Alleged Violations.

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Article: In another Wall Street misdeed, Morgan Stanley settles oil-trading flap

Article - Media

In another Wall Street misdeed, Morgan Stanley settles oil-trading flap

Kevin G. Hall

McClatchy Newspapers, 29 April 2010

In another black eye for Wall Street, the Commodity Futures Trading Commission late Thursday announced a $14 million fine against Morgan Stanley Capital Group Inc. for allegedly hiding its complex oil trades.

The settlement, in which Morgan Stanley did not admit or deny the accusations, comes as oil prices have continued their steady upwards march and have some oil analysts again saying that excessive speculation is again pushing up energy prices. One recent estimate put the cost of that to consumers and businesses at $300 billion annually.

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