Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Trafigura stops using intermediaries for business development purposes: spokesperson

Published 07/14/2019, 07:01 PM
Updated 07/14/2019, 07:06 PM
Trafigura stops using intermediaries for business development purposes: spokesperson

(Reuters) - Trafigura will not use intermediaries for business development purposes, aiming to end current agreements by September, a spokesperson for the commodities trader said on Sunday.

The move follows a series of probes from the U.S. Department of Justice, the Federal Bureau of Investigation as well as Swiss and Brazilian prosecutors into the use of intermediaries by several trading houses.

The company will continue to use advisory consultants such as security advisers and risk analysts and technical operational service providers such as port and shipping agents, the spokesperson said.

"These arrangements are subject to a number of requirements. There will be no new agreements with third parties for business development purposes. The aim is to have ended current agreements by September," the spokesperson said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.