Lawyers speculate over CFTC's move into foreign territory

Author: John Crabb | Published: 15 Mar 2019

Lawyers are unsure why the US Commodity Futures Trading Commission’s (CFTC) has made the decision to move into the foreign bribery space.

For starters, it's already crowded, and has not traditionally been a concern for the futures and options regulator.

Much to the market's surprise, the regulator has begun enforcing acts that violate the Foreign Corrupt Practices Act (FCPA), an area usually policed by the Securities and Exchange Commission (SEC) and the Department of Justice (DoJ).

Speaking at the American Bar Association’s National Institute on White Collar Crime in New Orleans this month, CFTC director of enforcement James McDonald outlined the changes regarding foreign bribery acts as set out in a new enforcement advisory.

"Companies and individuals engaging in foreign corrupt practices should recognise that this sort of misconduct might constitute fraud, manipulation, false reporting, or a number of other types of violations under the Commodity Exchange Act...