The Commodity Futures Trading Commission (CFTC) today issued an order simultaneously filing and settling charges against Interactive Brokers Corp., an introducing broker, and Interactive Brokers LLC, a futures commission merchant, for failing to maintain and preserve records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to their businesses as CFTC registrants.
The order requires Interactive Brokers to pay a $20 million civil monetary penalty, to cease and desist from further violations of recordkeeping and supervision requirements, and to engage in specified remedial undertakings. Interactive Brokers admits the facts detailed in the order.
The order finds from at least 2019 to the present, Interactive Brokers failed to stop its employees, including those at senior levels, from communicating using…
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