Glencore, a multinational commodity trading and mining company, announced on April 25 that the U.S. Commodity Futures Trading Commission is investigating whether Glencore and its subsidiaries might have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations through corrupt practices in connection with commodities.

“Glencore understands that the CFTC’s investigations are at an early stage and have a similar scope in terms of subject matter as the current ongoing investigation by the Department of Justice,” the company said.

Glencore said it will cooperate with the CFTC and that its response will be managed by its investigations committee, which was set up in July 2018 to oversee its response to a current ongoing investigation by the Justice Department.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more.View full Profile

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