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Bloomberg Law: CFTC’s New Foreign Bribery Focus Hinges on Companies’ Mea Culpas

March 11, 2019

The Commodity Futures Trading Commission (CFTC) announced a no-penalty enforcement policy if companies self-report foreign bribery linked to commodities law violations. This policy includes individuals or companies that are not registered with the CFTC and requires full cooperation.

CFTC Enforcement Director James McDonald has stated that the commission does not intend to duplicate the work or penalties of the SEC and DOJ. Steve Bunnell, O’Melveny partner and former chief of the Criminal Division in the US Attorney’s Office for the District of Columbia, welcomed the news. “Those are historically always the concerns, that it gets inefficient and complicated and sometimes unfair to have multiple agencies all investigating the same thing,” said Bunnell.

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