The Serious Fraud Office -v- Glencore Energy UK Ltd Sentencing Remarks of Mr Justice Fraser [3 November 2022]
08/11/2022
Glencore was indicted with seven counts under the Bribery Act 2010 (“the Bribery Act”).
Glencore pleaded guilty to all seven counts on 21 June 2022 before the Honorary Recorder of Westminster.
- Counts 1 to 5 are offences of bribery, contrary to section 1 of the Bribery Act.
- Counts 6 and 7 are offences of failure of a commercial organisation to prevent bribery, which is contrary to section 7 of the same Act. On 31 October 2022, the SFO was given permission to amend Count 5 to make a minor adjustment to the figure.
Glencore entered a guilty plea to that amended count on that day.
The facts of the offending have been explained in some detail by Ms Healy KC for the SFO in her opening of the case yesterday, and these are contained in the SFO document now publicly available called the Case Summary.
Those facts include material from Anthony Stimler, a former Glencore trader who has pleaded guilty to offences in the United States in relation to his involvement.
The identity of some individuals and two limited companies are anonymised in the Case Summary document due to reporting restrictions
The reasons for these reporting restrictions are more fully explained in a written judgment which is available at the National Archives at Serious Fraud Office v Glencore [2022] EWCR 1.
The individuals in question are currently under investigation by the SFO and no charges have been brought
Read more
https://www.judiciary.uk/wp-content/uploads/2022/11/Sentencing-Remarks-Glencore.pdf
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.