Syed Rahman comments on Glencore’s bribery case guilty pleas
Rahman Ravelli’s Syed Rahman was asked for his thoughts on Glencore pleading guilty in the bribery case brought by the UK’s Serious Fraud Office (SFO).
Syed made it clear that the guilty pleas were a boost for the SFO, which has faced scrutiny and criticism for its failings in other cases.
With the SFO having worked with the US and Brazil on the investigation into bribery in African oil contracts, Syed added that the case showed what could be achieved through cooperation. He explained that the case is a “stark signal’’ that the authorities will charge large corporates (and not just individuals) over wrongdoing.
Syed said that Glencore now faces the challenge of creating a robust ethics and compliance policy for all aspects of its operations.
Reuters, Al Jazeera, Law360 (subscription required) and CityA.M. were among those who published Syed’s opinions on the case.
