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Violation Tracker Individual Record

Company: Simply Gains, Inc. 
Penalty: $830,000
Year: 2024
Date: February 15, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Commodity Futures Trading Commission entered a consent order for permanent injunction, monetary sanctions, and equitable relief against Simply Gains, Inc. The order resolved a CFTC action filed against the defendants on June€¯9, 2020, alleging they fraudulently solicited millions of dollars from unsuspecting customers for trading retail leveraged, margined, or financed foreign currency (forex) and failed to register as required under the Commodity Exchange Act (CEA).
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.