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US regulator upholds $453 million Barclays power trading fine

Tue, 16th Jul 2013 21:41

July 16 (Reuters) - The U.S. Federal Energy RegulatoryCommission (FERC) ordered Barclays and four of itspower traders to pay fines totaling $453 million on Tuesday,saying the bank manipulated California's electricity marketslast decade.

The fine, first proposed in October 2012, must be paid within30 days, FERC said on Tuesday.

Barclays has contested FERC's findings and has previouslysaid it will fight the order in court.

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