CFTC Joins Fight Against Foreign Corruption

CFTC Division of Enforcement Director James McDonald pledged to enforce Commodity Exchange Act ("CEA") provisions that encompass foreign corrupt practices and issued an Enforcement Advisory on cooperation and self-reporting for violations of the CEA pertaining to foreign corrupt practices.

In remarks at the American Bar Association's 2019 National Institute on White Collar Crime, CFTC Director of Enforcement James McDonald said that foreign corruption is the type of misconduct that may lead to price alterations and the undermining of domestic markets. He stated: "we are committed at the CFTC to enforcing the CEA provisions that encompass foreign corrupt practices." He noted that the CFTC recognizes that CFTC enforcement of CEA provisions that encompass foreign corrupt practices includes misconduct that "might also violate the Foreign Corrupt Practices Act, and thus might be subject to prosecution under that statute by our partners at DOJ or the SEC." He asserted