JPMorgan Chase fined $ 566.082 due to his failure to respond to the regulation during the energy crisis
France’s energy organizer is punished for the German financial services company JPMorgan Chase for its failure to provide sufficient information to survey the energy market related to the high electricity prices.
In a statement, the French Energy Regulatory Committee (CRE) He says She sought to ask 44 of the market participants to understand the reasons for the unprecedented increase in electricity prices, which increased in 2022.
CRE says 43 participants responded to requests for information, but JP Morgan SE (JPMSE) refused to share some information, especially those related to the identity of the parties opposite the company and customers who participated in the transactions related to the subject of the survey.
JPMSE explained that the French organizer does not have the ability to submit binding requests to the market in the market member states of the other European Union.
In response, CRE says it has conducted an investigation and found that the company violates a law that authorizes the organization to collect information from companies operating in the French electricity market.
The conflict and penalties for the CRE JMPSE is now punished with a fine of 500,000 euros ($ 567500).
“This is the first decision from Cordes on violation of commitment to communicate the information needed to accomplish CRE tasks.”
At the time of publication, JPMorgan Chase did not make a general comment on the fine.
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