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CFTC Charges an Energy Company and its Employee with Foreign Corruption | Orrick, Herrington & Sutcliffe LLP


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In a coordinated enforcement action with the DOJ, the CFTC filed and simultaneously settled charges against Vitol Inc., the U.S. affiliate of one of the world’s largest energy trading firms. This marks the CFTC’s first foray into enforcing conduct related to foreign corrupt practices after publishing an advisory press release on this issue in March 2019. The CFTC brought the charges under 17 C.F.R. Section 180.1, the Agency’s general anti-fraud provision, which prohibits the employment of manipulative devices, schemes or artifices to defraud in connection with any swap, commodity or futures contract. Unlike the SEC, which has specific civil authority to enforce the FCPA both with respect to the anti-bribery provisions of the statute and the accounting provisions of the statute (e.g., books and records, internal controls, and reporting provisions), the CFTC has no such specific authority. ....

Javier Aguilar , Department Of Justice , Vitol Inc , Commodity Exchange , Herrington Sutcliffe , Commodity Exchange Act , First Time , Its Powers , Combat Foreign , துறை ஆஃப் நீதி , பண்டம் பரிமாற்றம் , ஹெரிங்டன் ஸட்‌க்லிஃப் , பண்டம் பரிமாற்றம் நாடகம் , முதல் நேரம் , அதன் பவர்ஸ் , போர் வெளிநாட்டு ,