Page 31 - 期货和衍生品行业监管动态（2024年6月刊）

期货和衍生品行业监管动态

regulations. The order requires Trafigura to pay a $55 million civil monetary penalty

and implement certain remedial measures to ensure future compliance with the CEA.

The order includes three violations:

Between 2014 and 2019, Trafigura traded gasoline while in knowing possession

of material nonpublic information it knew or should have known had been

misappropriated from a Mexican trading entity (MTE).

In February 2017, Trafigura manipulated a fuel oil benchmark to benefit its

futures and swaps positions, including derivatives traded on United States registered

entities.

Between 2017 and 2020, Trafigura required its employees to sign employment

agreements, and requested that former employees sign separation agreements

containing non-disclosure provisions prohibiting them from disclosing company

information, with no exception for law enforcement agencies or regulators, which

illegally impeded individuals from voluntarily communicating with Division of

Enforcement (DOE) staff during the investigation.

“As reflected in today’s Order, Trafigura misappropriated material non-public

information and engaged in manipulative conduct that affected published benchmark
rates,” said Director of Enforcement Ian McGinley. “This enforcement action is yet

another example of the CFTC’s commitment to ensuring the derivatives markets

remain free from trading abuses that undermine their integrity.”

Director of the Whistleblower Office Brian Young commented, “This is the first

CFTC action charging a company under regulations designed to prevent interference

with whistleblower communications. This groundbreaking action demonstrates the

CFTC’s commitment to protecting potential whistleblowers and puts the market on

notice that the CFTC will not tolerate contractual arrangements that could impede

communication by potential witnesses.”

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