Lessons from Hunter v. FERC: Barclays’ $453 Million Fight
By: Adam Eldean, Senior Production Editor Introduction On July 16, 2013, the Federal Energy Regulatory Commission (“FERC”) issued an order assessing civil penalties for an alleged violation of FERC’s Anti-Manipulation Rule by Barclays Bank PLC (“Barclays”) for manipulative energy trading in and around California from November 2006 to December 2008.[1] The Order calls for $435 million in civil penalties against the company, $15 million for one of the traders, and $1 million each for three additional traders.[2] The Order also…