CFTC Unveils Initiative to Encourage Self-Reporting of Foreign Corrupt Practices

Published On March 21, 2019

On 10 March 2019, the Commodity Futures Trading Commission (CFTC) unveiled a new initiative aimed at encouraging non-registrants to self-report corrupt foreign practices that might constitute violations of the laws and rules it administers.

Those non-registrants who cooperate with the CFTC, self-report and remedy their errors will benefit insofar as the CFTC’s enforcement division will (ordinarily) suggest to the Commission that no fine be issued. There will, however, be some occasions where malpractice will be referred to other law enforcement agencies for consideration.

The news was announced by James McDonald, Director of Enforcement of the Commodity Futures Trading Commission, and appears to be an extension of the agency’s efforts to encourage self-reporting of other violations and applicable law and rules.