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Friday Roundup

By on June 7, 2019 in Commodity Futures Trading Commission, F.H. Bertling Ltd, General Electric, Philips, Serious Fraud Office, Siemens, United Kingdom, Whistleblowers
Roundup

Seeking whistleblowers, scrutiny alert, and across the pond. It’s all here in the Friday roundup.

Seeking Whistleblowers

As highlighted in this previous post, a few months ago the Commodity Futures Trading Commission issued this enforcement advisory concerning companies and individuals “that timely and voluntarily disclose to the Division violations of the Commodity Exchange Act (CEA) involving foreign corrupt practices, where the voluntary disclosure is followed by full cooperation and appropriate remediation.”

Certain sources, including the FCPA Blog, falsely claimed that the CFTC is now investigating and prosecuting FCPA violations; however the CFTC advisory clearly concerns violations of the CEA. (See here for a recent FCPA Flash podcast on the topic).

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Friday Roundup

By on April 26, 2019 in Commodity Futures Trading Commission, Frederic Pierucci, Glencore, Goldman Sachs
Roundup

Scrutiny updates, more press, and for the reading stack. It’s all here in the Friday roundup.

Scrutiny Updates

Glencore

As highlighted in this prior post, in March the Commodity Futures Trading Commission issued an enforcement advisory concerning companies and individuals “that timely and voluntarily disclose to the Division violations of the Commodity Exchange Act involving foreign corrupt practices, where the voluntary disclosure is followed by full cooperation and appropriate remediation.”

Conventional wisdom was that this advisory just did not fall out of the sky, but was a reaction to something. In my own mind, that something was Glencore’s FCPA scrutiny which the company disclosed in July 2018 (see here).

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FCPA Flash Podcast – A Conversation With Laura Brookover Regarding The CFTC’s Recent Enforcement Advisory

By on March 19, 2019 in Commodity Futures Trading Commission, DOJ “Piling On” Policy, FCPA Flash
Podcast Logo

The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor.

This FCPA Flash episode is a conversation with Laura Brookover (Covington & Burling and former lawyer in the Enforcement Division of the Commodity Futures Trading Commission – CFTC). The podcast concerns the CFTC’s recent enforcement advisory concerning “violations of the Commodity Exchange Act (CEA) involving foreign corrupt practices” (see here for the prior post) and during the podcast Brookover discusses: the background of the CFTC and the CEA; why the CFTC may have issued the advisory; what type of conduct involving foreign corrupt practices could fall under the CEA; and various issues associated with CFTC enforcement actions.

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Enforcement Developments

By on March 11, 2019 in Commodity Futures Trading Commission, FBI
Uncle Sam

Recently, the Commodity Futures Trading Commission issued this enforcement advisory concerning companies and individuals “that timely and voluntarily disclose to the Division violations of the Commodity Exchange Act involving foreign corrupt practices, where the voluntary disclosure is followed by full cooperation and appropriate remediation.” (See here for the press release and here for remarks by a CFTC official).

This headline on the FCPA Blog states “CFTC Will Investigate and Prosecute FCPA Violations.” However, this is a false statement as the CFTC advisory clearly concerns violations of the Commodity Exchange Act.

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