Popular Oil Fund Misled Investors, SEC Says
The Securities and Exchange Commission has accused the fund, an exchange traded product that has become the most popular vehicle for trading U.S. oil, of failing to disclose key facts about the fund when the oil market was in deep distress last April. Half of that money will go to the Commodity Futures Trading Commission, which had also found that USO had violated CFTC regulations. In April 2020, the oil market was dealing with two enormous challenges.
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