March 14, 2013
CFTC Revokes Registration of Growth Capital Management LLC
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the revocation of the registration of Growth Capital Management LLC (GCM) located in Rockwall, Texas. GCM had been registered with the CFTC as Commodity Pool Operator and Commodity Trading Advisor.
On January 29, 2013, the CFTC Judgment Officer issued an Initial Decision on Default against GCM (Initial Decision) finding that GCM is statutorily disqualified from CFTC registration based on an order of permanent injunction entered by the U.S. District Court for the Northern District of Texas on June 26, 2012 (Court’s Order) (see CFTC News Release 6299-12). The Court’s Order enjoined GCM from further violations of certain anti-fraud provisions of the Commodity Exchange Act (CEA), and permanently barred GCM from becoming registered with the CFTC or acting as a principal or agent of a registrant. The Initial Decision finds that the Court’s Order demonstrates that GCM is unfit to act as a Commission registrant, and constitutes a valid basis for revoking GCM’s registration under the CEA.
The Initial Decision became a Final Order of the Commission effective February 28, 2013, after the time for filing a Notice of Appeal expired, and the CFTC declined to review the proceeding on its own initiative.
CFTC Division of Enforcement staff members responsible for this case are Alison B. Wilson, Boaz Green, Michelle Bougas, Gretchen L. Lowe, and Vincent A. McGonagle.
Last Updated: March 14, 2013