All Glencore articles
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PremiumDOJ commodities trader FCPA sweep offers lessons in cooperation
The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.
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News BriefOECD group questions Brazil’s momentum on anti-bribery
Brazil has made strides in its anti-bribery enforcement efforts, but a working group at the Organization for Economic Cooperation and Development is concerned the country doesn’t have the controls in place to sustain its progress.
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News BriefDOJ urges voluntary self-disclosure in corporate enforcement policy updates
The Department of Justice unveiled new incentives to encourage companies to voluntarily report violations of the Foreign Corrupt Practices Act, including steep discounts in monetary fines against businesses that self-disclose misconduct.
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PremiumPressure on business or individual? CCOs torn on DOJ certifications
The Department of Justice’s new CCO certification requirement drew mixed reviews from respondents to our “Inside the Mind of the CCO” survey, with many questioning whether the policy might backfire on the compliance profession.
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ArticleGlencore to pay $180M in DRC corruption case
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.
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ArticleGlencore Energy’s $324M fine for bribery comes with warning to others
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.
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ArticleCFTC FY2022 enforcement results: Record penalties, digital asset crackdown
The Commodity Futures Trading Commission highlighted its enforcement accomplishments from the 2022 fiscal year, including more than $2.5 billion ordered through restitution and penalties across 82 actions.
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ArticleGlencore fined $1B, placed under 3-year monitorship for FCPA violations
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.
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ArticleGrowing list of companies halting Russian operations
As the Russia-Ukraine crisis unfolds, companies around the world have announced changes to their supply chains to reduce their footprint in Russia. Compliance Week looks at how businesses across multiple industries are responding.
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ArticleEx-Glencore oil trader pleads guilty for role in bribery scheme
A former oil trader for a subsidiary of Glencore entered a guilty plea for his role in bribing government officials in Nigeria in exchange for the award of oil cargoes and more favorable delivery terms.
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ArticleSwiss AG latest investigating Glencore for corruption
Glencore is under criminal investigation by the Office of the Attorney General of Switzerland over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.
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ArticleSFO latest to investigate Glencore over bribery concerns
Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.
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Article
Glencore announces CFTC probe
The U.S. Commodity Futures Trading Commission is investigating whether multinational commodity trading and mining company Glencore and its subsidiaries might have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations.
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Blog
What is the cost of a subpoena?
Glencore has seen a drop in its share price, which could be related to the Justice Department having issued a subpoena for possible FCPA violations in the Democratic Republic of Congo, Nigeria, and Venezuela.
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Blog
Glencore receives subpoena from Department of Justice
Switzerland-based Glencore Ltd, a subsidiary of Glencore plc, said Tuesday it received a subpoena on July 2 from the U.S. Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and U.S. money laundering statutes.
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Article
Are shell companies a compliance nightmare?
Deeply suspicious oil, gas, and mining deals that involve complex use of shell companies raise concerns over the use of shell companies themselves. They might be legal, but are they good compliance practice?