BUSINESS

Senators Ask Why JPMorgan Execs Won't Be Punished For Involvement In FERC Investigation

US Senator Elizabeth Warren ,D-MA, speaks at a press conference April 16, 2013 in Boston, Massachusetts, in the aftermath of
US Senator Elizabeth Warren ,D-MA, speaks at a press conference April 16, 2013 in Boston, Massachusetts, in the aftermath of two explosions that struck near the finish line of the Boston Marathon April 15. The number of casualties in a Monday's bombings at the Boston marathon has risen to 176, police said Tuesday. Three people were killed. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)

WASHINGTON (Reuters) - Two Democratic Senators on Wednesday asked U.S. energy regulators for more details on how terms of a settlement were reached on alleged power market manipulation in California and the Midwest by a unit of JPMorgan Chase & Co.

In a letter to the head of the Federal Energy Regulatory Commission (FERC), Elizabeth Warren and Edward Markey, both of Massachusetts, questioned whether the settlement announced on Tuesday included "adequate refunds to defrauded ratepayers."

They also asked FERC why certain JPMorgan executives "who sought to impede the commission's investigation" will not be punished.

(Reporting by Ros Krasny; Editing by Carol Bishopric)

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