- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-11-09T12:54:00
Glencore Energy UK was ordered to pay nearly 281 million pounds (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.
The penalty is the largest ever for an SFO case following a corporate conviction, largely because of the fact senior officials had deliberately authorized the bribery rather than failed to prevent it.
Two of the individuals involved in the misconduct were business ethics officers or on the business ethics committee at Glencore’s London office and are still under investigation, according to a source close to the information.
2025-04-16T16:00:00Z By Aaron Nicodemus
The U.S. Department of Justice 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.
2023-07-20T15:01:00Z By Kyle Brasseur
Recruitment and retention are among the biggest issues facing the U.K. Serious Fraud Office as the agency gets set for a new director to take the reins.
2023-02-09T15:36:00Z By Neil Hodge
The Serious Fraud Office secured the convictions of two executives at failed British steel trading business Balli Steel on six counts of fraud. Legal experts examine whether “record-breaking” international cooperation in the case served as a crutch for the U.K. regulator.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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