Do not invest more money than you can afford to lose.
Several of the senior managers of the major US online forex brokerage Gain Capital Holdings (NYSE:GCAP) reported to the US Securities and Exchange Commission (SEC) that they have sold some shares. Samantha Roady, Chief Commercial Officer of Gain Capital, Jeffrey Scott, Chief Operating Officer and Diego Rotsztain, general counsel and secretary of the company have sold shares in order to satisfy tax withholding obligations, relating to the vesting of previously reported restricted stock units.
Samantha Roady sold 3078 shares and has 240 795 shares left. Jeffrey Scott sold the same number of shares and has 61 858 shares left. Diego Rotsztain sold 3 436 shares and remains with 71 703 shares. On the date of the sale, March 23, the shares cost around $6.28 each.
This is the second round of stock sales by Gain Capital senior managers since the beginning of March. In the first week of the month the same three persons reported to the SEC they sold shares, again to satisfy tax withholding obligations.
Meanwhile, Peter Quick, director of Gain Capital, reported to the SEC a week earlier that he has acquired a total of 60 000 shares in the company and now has 109 525 shares.
Other recent reports to the SEC reveal that the Bank of Montreal, a significant stakeholder in Gain Capital currently has 6.75% of the forex broker. This is by 0.02% less than as of December 31, 2015.
GAIN Capital is the second largest forex broker in the US in terms of retail forex obligations after Forex Capital Markets, or FXCM, according to the US Commodity Futures Trading Commission (CFTC).
The company serves retail and institutional clients under the trading brands Forex.com, City Index, GTX, and Gain Capital. It is active in North America, Europe and the Asia Pacific regions. The broker offers trading in forex, commodities, and global equities, among others.