Deutsche Bank Rejects FERC Penalty for Market Rigging
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Deutsche Bank AG’s energy trading unit denied manipulating power markets and told the U.S. Federal Energy Regulatory Commission it should drop a proposal that the bank pay a $1.5 million fine and give up $123,198 in profit.
FERC’s enforcement staff, in a Sept. 5 order, said Deutsche Bank Energy Trading LLC submitted false information related to its energy trading in California in early 2010.