Dorsey Partner Margot Laporte was extensively quoted in an article on the status of Freepoint Commodities LLC's settlements with the Department of Justice and Commodity Futures Trading Commission. The Connecticut-based commodities trading company originally settled with the DOJ and CFTC last December but still has to wrap up its obligations in a related trial more than half a year later. The company's reactive cooperation, the settlements themselves, the trial of an associated individual, and the consequences of the whole ordeal carry weight beyond the singular case.
Margot pointed out that the settlements "highlight that lapses in compliance programs and internal controls can result in multiple regulatory risks, including parallel anti-corruption and insider trading enforcement actions." She commented further, saying that the settlements “show that U.S. authorities are aggressively targeting corruption schemes that affect global financial markets" and that "both the DOJ and CFTC have signaled heightened focus on foreign corrupt payments by global commodities trading companies."
Read more of what Margot had to say in the full article on the Anti-Corruption Report. (A subscription is required).