September 5, 2017

The U.S. Commodity Futures Trading Commission (CFTC) today entered an Order requiring Dallas, Texas-based W Resources, LLC (W Resources) to pay a $150,000 civil monetary penalty for acting as a Commodity Pool Operator (CPO) without registering with the CFTC and to cease and desist from further violating the Commodity Exchange Act (CEA), as charged. The Order finds that W Resources operated W North Fund LLC, W North Fund II LLP, and W North Fund III LLP (together, W North Funds) as commodity pools by trading commodity options to hedge financial exposure to physical oil and gas assets. However, the Order finds that, beginning in or about October 2013, W Resources operated and continues to operate the W North Funds without registering with the CFTC as a CPO, in violation of the registration provisions of the CEA. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,