Defendant Name: United States Oil Fund, LP

Defendant Type: Public Company
SIC Code: 6221
CUSIP: 91232N20

Initial Case Details

Legal Case Name In the Matter of United States Commodity Funds LLC and United States Oil Fund, LP
First Document Date 08-Nov-2021
Initial Filing Format Administrative Action
File Number 3-20648
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Securities Act
• Sec 17(a)(3)

Resolutions

First Resolution Date 08-Nov-2021
Headline Total Penalty and Disgorgement $2,500,000

Related Documents:

33-11006 08-Nov-2021 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings, and Imposing a Cease-and-Desist Order
On November 8, 2021, the SEC instituted settled cease-and-desist proceedings against United States Commodity Funds LLC and United States Oil Fund, LP, stating: "These proceedings concern a failure to disclose material information by USO, a commodity pool regulated by the Commodity Futures Trading Commission (“CFTC”) pursuant to the Commodity Exchange Act, and its general partner, USCF, a commodity pool operator registered with the CFTC, about certain limitations imposed on USO by its sole futures commission merchant (“FCM”) during the time period specified below, that rendered statements made misleading."
2021-229 08-Nov-2021 Press Release--Administrative Proceeding
SEC Charges Exchange-Trade Product and Its General Partner With Disclosure Failures
The SEC stated that " today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission merchant and broker. USO and USCF have agreed to pay $2.5 million in penalties to settle parallel cases by the SEC and Commodity Futures Trading Commission."

Other Defendants in Action:

United States Commodity Funds LLC