FERC Proposes $435 Million Penalty for Barclays’ Energy Trading

FERC Proposes Record $435 Million Fine in Barclays Energy Trad
The Barclays Plc logo hangs from the top of the company's headquarters in the Canary Wharf business district of in London. Photographer: Simon Dawson/Bloomberg

Oct. 31 (Bloomberg) -- Barclays Plc was ordered by the Federal Energy Regulatory Commission to show why it shouldn’t be assessed a civil penalty of $435 million, plus $34.9 million in profit disgorgement, after the agency alleged the bank manipulated U.S. energy markets from late 2006 to 2008.

The agency proposed the penalties in a show-cause order issued today.

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To contact the reporter on this story: Brian Wingfield in Washington at bwingfield3@bloomberg.net

To contact the editor responsible for this story: Steve Geimann at sgeimann@bloomberg.net