The National Futures Association (NFA) has ordered London-based introducing broker Oil Brokerage Limited to pay a USD 290,000 fine after finding the firm allowed individuals to solicit and/or accept orders from customers located in the United States without proper registration and failed to supervise. The Business Conduct Committee’s decision, based on a committee complaint and the firm’s settlement offer (without admitting or denying the allegations), found violations of NFA Bylaw 301(b) because the individuals were not NFA Associates and not registered with the Commodity Futures Trading Commission as associated persons of the firm, and violations of NFA Compliance Rule 2-9(a) for failure to supervise. The complaint and decision are available on NFA’s website.
National Futures Association 2025-11-12
US National Futures Association orders Oil Brokerage Limited to pay USD 290,000 fine for unregistered US customer solicitation and supervision failures
The National Futures Association (NFA) fined Oil Brokerage Limited USD 290,000 for allowing unregistered individuals to solicit and accept orders from U.S. customers and failing to supervise. The Business Conduct Committee found violations of NFA Bylaw 301(b) and Compliance Rule 2-9(a) based on a complaint and the firm's settlement offer.