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Violation Tracker Individual Record

Company: Vitol Inc.
Current Parent CompanyVitol
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $95,700,000
Year: 2020
Date: December 3, 2020
Offense Group: competition-related offenses
Primary Offense: fraud
Secondary Offense: energy market manipulation
Violation Description: The CFTC issued an order filing and settling charges against Vitol Inc., an energy and commodities trading firm in Houston, Texas, for manipulative and deceptive conduct. The conduct, which spanned from 2005 to early 2020, involved foreign corruption and physical and derivatives trading in the U.S. and global oil markets, including attempted manipulation of two S&P Global Platts physical oil benchmarks. The order requires Vitol to pay more than $95 million in civil monetary penalties and disgorgement. The CFTC action overlaps with a Justice Department Foreign Corrupt Practices Act criminal action (see separate entry).
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: energy and commodity trading
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.