Look Who Just Paid $1.6 Million To End A Trading Probe

According to Bloomberg the Federal Energy Regulatory Commission has approved a settlement between its Office of Enforcement and Deutsche Bank Energy Trading LLC to resolve an Order to Show Cause proceeding regarding manipulation of California power markets.

Deutsche Bank stipulates to the facts and neither admits nor denies the violations. It agrees to pay a civil penalty of $1.5 million and disgorge unjust profits of $172,645, plus interest, resulting from its trading in California Independent System Operator (California ISO) markets at the Silver Peak intertie. In a September 2012 order, the Commission directed Deutsche Bank to show cause why its conduct did not merit a proposed $1.5 million penalty….

http://www.bloomberg.com/news/2013-01-22/deutsche-bank-pays-1-6-million-to-end-u-s-trading-probe.html