BAAR, 26-Apr-2019 — /EuropaWire/ — Glencore has announced it has been notified by the United States Commodity Futures Trading Commission (“CFTC”) about an investigation they are going to carry out in regard to possible violation of certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities by Glencore and its subsidiaries.
Glencore is committed to fully cooperate with the CFTC on their investigation and its response will be coordinated by its Investigations Committee, which was established last year (July 2018) to oversee Glencore’s response to the investigation by the DOJ.
While CFTC’s investigation is at an early stage, Glencore sees similarities in the scope of the new CFTC investigation in terms of subject matter with the currently ongoing investigation by the US Department of Justice (“DOJ”).
Glencore is a major player on the commodities markets dealing with over 90 commodities. The company operates 150 mining and metallurgical sites, oil production assets and agricultural facilities around the world and has a global network of more than 90 offices located in over 50 countries.
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