The Commodity Futures Trading Commission (CFTC) has fined Trafigura $55 million for manipulating the fuel-oil market in the US. This fine is part of a broader investigation that has also implicated Vitol and Glencore, marking them among the world's top three largest independent oil trading houses involved in market manipulation. Additionally, Trafigura has proposed share clawbacks for employees who breach confidentiality and its code of conduct. The proposal was communicated in a letter sent last week to current and former employees.
#Trafigura #InsiderTrading #MarketManipulation #CFTC #OOTT Must read from @matt_levine https://t.co/z3G4LbOMYR
#Trafigura #InsiderTrading #MarketManipulation #CFTC #OOTT Must read from Matt Levine https://t.co/z3G4LbOf9j
Exclusive: Trafigura proposes employee share clawbacks for confidentiality breaches, sources say https://t.co/CGek3PxQOq https://t.co/ER2ov8Cx6w
🔵 EXCLUSIVE-TRAFIGURA PROPOSES EMPLOYEE SHARE CLAWBACKS FOR CONFIDENTIALITY BREACHES, SOURCES SAY LONDON - Commodity trader Trafigura sent a letter last week to current and former employees proposing share clawbacks for breaches of confidentiality and its code of conduct,…
⚠️ TRAFIGURA PROPOSES SHARE CLAWBACKS FOR EMPLOYEE CONFIDENTIALITY BREACHES, SOURCES SAY
With this new $55 million fine to Trafigura, the CFTC has found the world's top-3 largest independent oil trading houses -- Vitol, Glencore and Trafigura -- successfully manipulated the fuel-oil market in the US | #OOTT https://t.co/AlyBsA4Dah