Portland General Electric settles SEC investigation into 2020 energy trading losses; no fine

PORTLAND GENERAL ELECTRIC CO /OR/

SEC entered cease-and-desist order for violations of internal accounting controls, books/records, and disclosure controls.
No monetary penalty imposed; SEC recognized company's cooperation and remedial measures.
Remedial measures adopted in 2020 include enhanced oversight of energy trading and risk management.
CFTC and FERC investigations remain ongoing; management cannot predict further developments.

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