Interactive Brokers hit with $38m penalty amid regulatory clampdown
10 Agosto 2020 - 07:30PM
Coin Rivet
The Securities and Exchanges Commission (SEC) has slapped
Interactive Brokers with a staggering penalty after the
brokerage firm failed to report Suspicious Activity Reports (SARs)
for microcap securities trades. The SEC penalty stands at $11.5
million while parallel actions from FINRA and the CFTC draw up a
total bill of $38 million following a series of “anti-money
laundering failures”. According to a press release published by the
SEC, over a one-year period: “Interactive Brokers failed to file
more than 150 SARs to flag potential manipulation of microcap
securities in its customers’ account.” SEC charges interactive
brokers with repeatedly failing to file suspicious activity reports
https://t.co/YA9McvPbSi — SEC_News (@SEC_News) August 10, 2020 The
order finds that “Interactive Brokers failed to recognise ...
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penalty amid regulatory clampdown
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