Firms seen upping surveillance and self-reporting after Ferc fines
Ferc penalties against Barclays and other banks expected to bolster compliance with market manipulation rules
Recent bumper-sized fines levied on investment banks by the US Federal Energy Regulatory Commission (Ferc) will cause energy trading firms to bolster their compliance efforts, ramping up internal surveillance and increasing self-reporting to regulators, predict industry experts.
On July 16, Ferc upheld a record $453 million fine issued to Barclays in October 2012 for alleged manipulation of the California power market. The firm denies the allegations, and says it intends to dispute the fine in
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