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JPMorgan says federal energy regulators may bring action against Ventures Energy business

NEW YORK, N.Y. – JPMorgan says federal energy regulators are investigating some of its bidding practices in power markets.

In a filing with the Securities and Exchange Commission on Wednesday, JPMorgan Chase & Co. says it received a “Wells-type” notice from the Federal Energy Regulatory Commission in March.

FERC said it may bring action against J.P. Morgan Ventures Energy Corp., JPMorgan Chase & Co. and some of its personnel.

JPMorgan says the agency concluded that its J.P. Morgan Energy Ventures unit had submitted misleading information in response to a FERC investigation.