W Resources, LLC, which from October 2013 to the present operated at least three private investment funds to purchase oil and gas interests, was charged by the Commodity Futures Trading Commission with acting as a commodity pool operator without required registration. This was because the funds hedged their financial exposure related to future oil production volume by trading crude oil options on the New York Mercantile Exchange. Under US law it is prohibited to act as a CPO without registration, subject to certain exemptions. (Click here to access 7 U.S.C. § 6m(1).) To resolve this matter, W Resources agreed to pay a fine of US $150,000.