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Hdeel Abdelhady Talked to Reuters About the CFTC’s Anti-Corruption Push

  • July 29, 2019
Ms. Abdelhady addressed how the CFTC's current investigation of Glencore and its broader anti-corruption plans might fit with the Trump Administration's wider anti-corruption strategy targeting the extractives industry globally, as well as the how the CFTC, which lacks direct FCPA enforcement authority, might take a page from the NYDFS' playbook and indirectly enforce an anti-corruption agenda under the Commodities Exchange Act.
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Rare Earth Elements China

China’s Rare Earth Exports: End Use and End User Controls Coming?

  • June 2, 2019
China might take a targeted approach to any restrictions on rare earth elements that echoes, or effectively duplicates, the approach of the United States, which is to control exports based on "end use" and "end user" where one or both conflict with or potentially undermine U.S. national security interests (which include technological leadership and economic security).
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After Cobalt Heist, Review Minerals Transit, Storage and Insurance Practices

  • July 23, 2018
At this point, one or few reported new incidents of cobalt (or other critical minerals) thefts/security risks are insufficient to make any reasonable predictions as to what action would be reasonable. However, news of such incidents should be closely monitored by suppliers/exporters, buyers/importers, finance intermediaries, and logistics services providers. Related storage, transit and insurance practices and terms should be noted for review if and when circumstances appear to warrant such action.
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Canary in the Cobalt Mine: Glencore Corruption Probe May Not Be a One Off

  • July 3, 2018
The U.S. arm of Glencore, the global commodities trading and mining giant, has been served a subpoena by the U.S. Department of Justice, according to news accounts. The DOJ's subpoena reportedly seeks documents and information pertaining Glencore's business in the Democratic Republic of Congo (DRC), Nigeria and Venezuela to assess potential violations of U.S. anti-money laundering laws and the Foreign Corrupt Practices Act (FCPA), the principal U.S. law essentially prohibiting the bribery of foreign officials for business gain by U.S. companies and others subject to United States' jurisdiction (broadly construed and applied).The Glencore subpoena may not be a one-off and it should be viewed-- at least for risk assessment and compliance improvement purposes-- as potentially part of a larger U.S. strategy to proactively target corruption and, by extension, money laundering, in Africa and Africa's extractives industries. (The wider context is that the Trump Administration views U.S. anti-corruption, anti-money laundering and sanctions laws and their enforcement as "tools of economic diplomacy", including to advance trade and other policy objectives).
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