GATA | THE GATA DISPATCH -November 15, 2012-: Federal energy commission suspends Morgan unit's trading authority:
Federal energy commission suspends Morgan unit's trading authority Submitted by cpowell on 07:42AM ET Thursday, November 15, 2012. Section: Daily Dispatches By Jim Snyder and Dawn Kopecki Bloomberg News Thursday, November 15, 2012 http://www.bloomberg.com/news/2012-11-15/ferc-suspends-jpmorgan-unit-s-p... The U.S. Federal Energy Regulatory Commission yesterday suspended a JPMorgan Chase & Co. unit's electrical-trading authority, saying it had filed false information with regulators. The action, part of a more aggressive effort by the commission to monitor U.S. power markets, prohibits J.P. Morgan Ventures Energy Corp. from selling electricity at market-based rates for six months starting April 1, 2013. The FERC said the company made "factual misrepresentations" and omitted material information in communications with the California Independent System Operator, or CAISO, and in filings to the commission. CAISO operates the state&