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Violation Tracker Individual Record

Company: JP Morgan Ventures Energy Corporation
Current Parent Company: JPMorgan Chase
Penalty: $410,000,000
Year: 2013
Date: July 30, 2013
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Secondary Offense: energy market manipulation
Mega-Scandal: Western Energy Crisis
Violation Description: The Federal Energy Regulatory Commission approved a stipulation and consent agreement under which JP Morgan Ventures Energy Corporation was to pay $410 million in penalties and disgorgement to ratepayers for allegations of market manipulation stemming from the company's bidding activities in electricity markets in California and the Midwest from September 2010 through November 2012.
Level of Government: federal
Action Type: agency action
Agency: Federal Energy Regulatory Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.