Federal energy regulators agreed to settle charges against Amaranth Advisors L.L.C., the Greenwich hedge fund that collapsed in 2006 after more than $6 billion in losses from bad energy trades.
The Federal Energy Regulatory Commission had sought $300 million in penalties against the company and former lead energy trader Brian Hunter, alleging they attempted to manipulate prices for natural gas. FERC did not immediately publish the settlement amount, which is still under negotiation.
The Commodity Futures Trading Commission has sued Amaranth and Hunter on similar allegations.