Former enforcement chief takes top job at Ferc

Other commodities moves at BAML, Freepoint, StanChart and Wells Fargo


Norman Bay, a Washington, DC-based commissioner at the US Federal Energy Regulatory Commission (Ferc), officially became chairman of the agency on April 15.

Bay's appointment is controversial: before being elevated to commissioner, he was director of Ferc's Office of Enforcement, overseeing high-profile probes of alleged market manipulation by firms such as Barclays, Deutsche Bank, JP Morgan and Baltimore-based Constellation Energy, now a unit of Chicago-based power giant Exelon.

Ferc's increasi