0001171200-20-000442.txt : 20200615 0001171200-20-000442.hdr.sgml : 20200615 20200612180117 ACCESSION NUMBER: 0001171200-20-000442 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200615 DATE AS OF CHANGE: 20200612 FILER: COMPANY DATA: COMPANY CONFORMED NAME: United States Brent Oil Fund, LP CENTRAL INDEX KEY: 0001472494 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 270925904 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-238282 FILM NUMBER: 20961340 BUSINESS ADDRESS: STREET 1: 1850 MT. DIABLO BLVD. STREET 2: SUITE 640 CITY: WALNUT CREEK STATE: CA ZIP: 94596 BUSINESS PHONE: (510) 522-9600 MAIL ADDRESS: STREET 1: 1850 MT. DIABLO BLVD. STREET 2: SUITE 640 CITY: WALNUT CREEK STATE: CA ZIP: 94596 424B3 1 i20398_bno-424b3.htm
 

 

Filed pursuant to Rule 424(b)(3)

File No. 333-238282

 

UNITED STATES BRENT OIL FUND, LP

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Supplement dated June 15, 2020

to

Prospectus dated June 11, 2020

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This supplement contains information that amends, supplements or modifies certain information contained in the prospectus of United States Brent Oil Fund, LP (“BNO”) dated June 11, 2020 (the “Prospectus”).

 

You should carefully read the Prospectus and this supplement before investing. This supplement should be read in conjunction with the Prospectus. You should also carefully consider the “Risk Factors” beginning on page 4 of the Prospectus before you decide to invest.

 

 

 

 
 

 

The E D & F Man Capital Markets Inc. to Serve as a Futures Commission Merchant for BNO

 

On June 11, 2020, BNO entered into a Customer Agreement with E D & F Man Capital Markets Inc. (“MCM”) to serve as an additional futures commission merchant for BNO.

 

In light of the foregoing, the section entitled “Futures Commission Merchant” beginning on page 30 of the Prospectus is revised to add the following text at the end of the section:

 

E D & F Man Capital Markets Inc.

 

On June 11, 2020, BNO entered into a Customer Agreement E D & F Man Capital Markets Inc. (“MCM”) to serve as an FCM for BNO. This agreement requires MCM to provide services to BNO in connection with the purchase and sale of Oil Futures Contracts and other Oil-Related Investments that may be purchased or sold by or through MCM for BNO’s account. Under this agreement, BNO pays MCM commissions for executing and clearing trades on behalf of BNO.

 

MCM’s primary address is 140 East 45th Street, 10th Floor, New York, NY 10017. MCM is registered in the United States with FINRA as a broker-dealer and with the CFTC as an FCM. MCM is a member of various U.S. futures and securities exchanges.

 

MCM is a large broker dealer subject to many different complex legal and regulatory requirements. As a result, certain of MCM’s regulators may from time to time conduct investigations, initiate enforcement proceedings and/or enter into settlements with MCM with respect to issues raised in various investigations. MCM complies fully with its regulators in all investigations which may be conducted and in all settlements it may reach. As of the date hereof, MCM has no material litigation to disclose as that term is defined under the U.S. Commodity Exchange Act and the regulations promulgated thereunder.

MCM will act only as clearing broker for BNO and as such will be paid commissions for executing and clearing trades on behalf of BNO. MCM has not passed upon the adequacy or accuracy of this disclosure document. MCM will not act in any supervisory capacity with respect to USCF or participate in the management of USCF or BNO.

 

MCM is not affiliated with BNO or USCF. Therefore, neither USCF nor BNO believes that there are any conflicts of interest with MCM or its trading principals arising from its acting as BNO’s FCM.