CFTC’s New Target: Foreign Corrupt Practices In Derivatives And Commodities Markets

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US efforts to prosecute foreign corrupt practices got a big boost recently with the Commodity Futures Trading Commission’s announcement that it will prosecute companies that engage in foreign bribery affecting the derivatives and swaps markets, benchmark interest rates and other aspects of commodity markets.

Importantly, the CFTC recognizes that whistleblowers will be critical to this new enforcement agenda. In its announcement, the agency encouraged whistleblowers with information about foreign corrupt practices in the commodities or derivatives markets to step forward.

CFTC Director of Enforcement James McDonald said in a speech March 6 that the CFTC already is pursuing multiple investigations.

Read the original article here: forbes.com


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