Securities Regulation Daily Wrap Up, BROKER-DEALERS—NFA fines U.K. introducing broker $290,000 for unregistered solicitations and supervision failures, (Nov 13, 2025)
Organizations Mentioned:National Futures Association
Oil Brokerage Limited agreed to pay a $290,000 fine to resolve NFA charges related to unregistered solicitations of U.S. customers and inadequate supervision.
The National Futures Association (NFA) has settled disciplinary proceedings against Oil Brokerage Limited, a London-based introducing broker, ordering the firm to pay a $290,000 fine for compliance failures involving U.S. customers. The case, resolved through a settlement accepted by NFA’s Business Conduct Committee, found that Oil Brokerage permitted unregistered individuals to solicit or accept U.S. customer orders and failed to properly supervise their activities, violating NFA and CFTC registration and oversight requirements. The firm neither admitted nor denied the allegations as part of the settlement (In the Matter of Oil Brokerage Limited, No. 25-BCC-009 (Nov. 12, 2025)).
According to the Committee’s findings, Oil Brokerage allowed individuals to solicit and accept orders from U.S.-based customers without those individuals being registered with the CFTC as associated persons or approved as NFA Associates, violating NFA Bylaw 301(b). The Committee also found that the firm failed to adequately supervise these activities, in breach of NFA Compliance Rule 2-9(a).
Under the terms of the settlement, Oil Brokerage will pay the $290,000 fine within 30 days of the decision’s effective date. The decision specifies that while the settlement cannot be used as the sole basis for other NFA actions, it may be considered part of the firm’s disciplinary history in future regulatory or enforcement proceedings.
The case is No. 25-BCC-009.
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