Deutsche Bank Faces Fine for U.S. Power-Market Manipulation
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Deutsche Bank AG’s energy trading unit faces a $1.5 million fine and must give up $123,198 in profit for allegedly manipulating U.S. power markets, the Federal Energy Regulatory Commission said.
Deutsche Bank Energy Trading LLC submitted false information in connection with its trading in California from Jan. 29, 2010, through March 24, 2010, the agency said in an order issued Sept. 5. The bank must respond to the agency’s allegations within 30 days, according to the order.