LEGAL ACTION: Glencore under CFTC investigation for possible violations

SWITZERLAND – Glencore has been informed by the United States Commodity Futures Trading Commission (CFTC) that the CFTC is investigating whether the company may have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations. The CFTC’s investigations are at an early stage and have a similar scope in terms of subject matter as the current ongoing investigation by the U.S. Department of Justice (DOJ), according to the company. In April 2018, two Glencore subsidiaries were hit with a $2 million fine by the CFTC for multiple violations between January 2013 and November 2015. Shares of Glencore were down nearly 4% on the London Stock Exchange on Thursday. This story first appeared on www.Mining.com.