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Glencore Cuts Out Agents and Dealmakers as Scrutiny Grows

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Glencore Plc is cutting out many of its intermediaries -- the agents and dealmakers once essential to cracking the toughest markets -- amid growing scrutiny of its operations around the world.

Under pressure from its compliance division, Glencore is dismantling much of its global network of trading agents, according to people familiar with the situation. To continue operating, the company is setting up teams in some countries, said the people, asking not to be named as the matter is private. In other places, Glencore is still using agents who pass strict compliance tests and have a clear role.