Deutsche Bank unit expected to be fined for energy trading scheme, WSJ reports

theflyonthewall.com

Federal officials are expected to fine a Deutsche Bank (DB) $1.5M after concluding that its energy-trading arm extracted illicit profits from the California electricity marketplace in 2010, reports the Wall Street Journal. The action could come today, sources say, and is part of a larger crackdown by the Federal Energy Regulatory Commission targeting electricity-trading schemes that it says resemble the market manipulations that caused California's energy crisis over 10 years ago.Other banks being investigated for alleged electricity market-manipulation tactics include Barclays (BCS) and J.P. Morgan Chase (JPM) who are contesting the allegations.

View Comments (0)