Public Statements & Remarks

Statement of Commissioner Caroline D. Pham Regarding Order Filing and Settling Charges Against Glencore

May 24, 2022

Since 1974, a time of historically high commodity prices, Congress has mandated that the CFTC protect our markets from fraud and manipulation. Today, we are in another time of volatility and disruption in the global commodity markets. These historic fines—the largest ever brought by the CFTC—show that we are committed to bringing cases that protect American consumers at the gas pump and the dinner table. Bad actors in our markets are on notice that the CFTC has a leading role in enforcing our laws around the world together with other U.S. regulators and foreign authorities. I am proud to support the Division of Enforcement as it does its part in keeping our economy running.