Dive Summary:
- In the wake of JPMorgan Chase & Co's $410 million settlement with the Federal Energy Regulatory Commission (FERC), the U.S. Department of Justice (DOJ) has opened an investigation into JPMorgan Chase's energy trading and whether the company manipulated energy markets, according to the Wall Street Journal.
- It is not yet clear whether the investigation is civil or criminal but the DOJ reportedly plans to cover some of the same ground as the FERC case.
From the article:
The probe, which was said to be in early stages, is being handled by U.S. Attorney Preet Bharara in Manhattan, the newspaper said on its website. Bharara recently brought criminal charges against two former JPMorgan traders for understating losses from the bank's disastrous London Whale derivatives trades last year.