Call us now:
Glencore is to plead guilty to bribery and market manipulation charges bought about through a joint U.S. UK investigation by the UK Serious Fraud Office and U.S. Justice Department. Glencore will pay $1.5bn in overall penalties. $1.1Bn to US authorities, $40mn to Brazilian prosecutors and an amount to the UK. With probes ongoing by Swiss and Dutch authorities.
The U.S. DoJ is installing 2 independent compliance monitors at Glencore for three years to check its internal controls. One would suspect that the DoJ will continue to keep a close eye on Glencore’s operations, governance, risk and compliance processes.
An example of international collaboration over regulatory compliance.
Ted Dziekanowski
#fraud #bribery #governance #regulation #commodities #doj #seriousfraudoffice
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