Cargill reaches agreement with CFTC regarding customer reporting requirements

November 06, 2017

Cargill has reached an agreement with the Commodity Futures Trading Commission (CFTC) to change its customer reporting for products provided by its swap dealer, Cargill Risk Management. Cargill Risk Management is immediately implementing revised customer reporting, as well as enhancing its internal controls and employee training programs. In addition, Cargill will pay $10 million to the CFTC. The CFTC’s inquiry into these matters is now concluded, and Cargill neither admits nor denies the findings. 

Cargill Risk Management, which provides risk management products to customers in the agriculture, energy and metals markets, is a strong advocate for open, competitive and efficient swap markets. Cargill takes its legal obligations and market integrity seriously and makes every effort to ensure compliance with all laws and regulations relevant to its businesses.

Cargill is satisfied to fully resolve this civil matter with the CFTC, which will allow it to continue focusing on meeting the risk management needs of its customers. Cargill is committed to providing its customers with the timely and accurate information they need to make risk management decisions with confidence. Customers will experience no interruption in the risk management products and services available to them.