- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2025-04-16T16:00:00
The U.S. Department of Justice (DOJ) ended two compliance monitorships on Glencore International more than a year early, monitorships imposed in 2022 after the company was convicted of paying bribes and manipulating commodities markets.
The DOJ may have chosen to end the two monitorships early because Swiss-based Glencore had hit certain targets in beefing up its compliance program to mitigate long-term problems unearthed in its $1 billion settlement with the DOJ and the Commodity Futures Trading Commission (CFTC).
A Glencore spokesperson told Compliance Week that the DOJ ended the three-year compliance monitorships in March. The mentorships had originally been scheduled to end in 2026.
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2022-12-06T21:31:00Z By Neil Hodge
Commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo to settle claims arising from alleged corrupt practices that took place for more than a decade.
2022-11-09T12:54:00Z By Neil Hodge
Glencore Energy UK was ordered to pay nearly £281 million (U.S. $314 million) in fines and costs after an investigation by the U.K.’s Serious Fraud Office (SFO) found it paid $29 million in bribes to gain preferential access to oil in Africa to boost profits.
2022-05-24T21:47:00Z By Aaron Nicodemus
Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.
2023-03-16T15:11:00Z By Kyle Brasseur
The United States broke from a three-year downturn in bribery-related enforcement actions, while Brazil continued its emergence in the space, according to the results of the latest annual Global Enforcement Report by nonprofit TRACE.
2022-03-18T18:21:00Z By Jaclyn Jaeger
The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.
2022-02-03T18:15:00Z By Jaclyn Jaeger
A payment by a U.S.-based company to a third-party intermediary under circumstances that placed an employee’s life and well-being at “significant risk” would not trigger enforcement under the anti-bribery provisions of the FCPA, the Department of Justice stated in an opinion procedure.
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