Hedge Fund Twins Stage Campaign Against Energy Regulator

Norman Bay, the top sheriff of U.S. energy markets, has taken on giants, imposing more than $881 million in combined fines on Barclays Plc, JPMorgan Chase & Co. and Deutsche Bank AG over alleged price manipulation.

Now, Bay is the target. A small Pennsylvania hedge fund has taken up Wall Street’s cause and embarked on a public campaign to stop the former prosecutor from being confirmed as the next chairman of the Federal Energy Regulatory Commission.