CFTC v. Gain Capital Group, LLC (supervision failures, 2020)

Settled

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In September 2020, the CFTC settled charges against futures commission merchant Gain Capital Group, LLC, ordering a US$300,000 penalty for failing to supervise accounts introduced by Foremost Trading LLC and traded by Mark Miller, including its handling of trade-move requests.

The record

Structured fields for this action, as recorded in our case library.
Agency	CFTC
Release number	8263-20
Date filed	2020-09-29
Date resolved	2020-09-29
Status	settled
Asset class	futures
Venue	CME
Criminal parallel	No
Defendants	Gain Capital Group, LLC (entity)
Techniques

What was ordered

Civil penalty: $300k
Disgorgement: —
Prejudgment interest: —
Total relief: $300k
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Commodity Futures Trading Commission announced this matter on September 29, 2020 as release 8263-20. The respondents named are Gain Capital Group, LLC (0 individuals, 1 entity).

The order finds that from 2014 to 2016 Gain did not follow its own policy on requests to move trades between accounts and had weak procedures for reviewing customer accounts. The earlier fraud by Foremost and Miller is referenced only as background.

This library applies no technique tag to the matter. The charge is a supervision failure by a clearing firm; the release does not describe wash trading by the respondent.

A $300,000 civil monetary penalty and a cease-and-desist order under CFTC Regulation 166.3.

Gain consented to the order.

Timeline

2020-09-29 CFTC release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.