On March 6, 2019, CFTC Director of Enforcement James McDonald said the agency is pursuing foreign corrupt practices that constitute violations of the Commodities Exchange Act, with some investigations already underway. The agency also moved to encourage voluntary disclosures, with a new policy of generally not seeking civil monetary penalties for CFTC non-registrants who demonstrate full cooperation and appropriate remediation. Our client memo examines the implications for companies of the CFTC’s entry into an already crowded enforcement space, including the CFTC’s commitment not to pile onto existing investigations by the DOJ and SEC.