CFTC Orders Connecticut-based Interactive Brokers LLC, a Registered Futures Commission Merchant, to Pay a $225,000 Civil Monetary Penalty
Firm failed to supervise its employees, failed to maintain sufficient U.S. dollars in customer segregated accounts, and failed to compute on a currency-by-currency basis the amount of customer funds on deposit and required to be on deposit in segregated accounts
Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order requiringInteractive Brokers LLC (IB) of Greenwich, Conn., to pay a $225,000 civil monetary penalty for failing to calculate the amount of customer funds on deposit, the amount of funds required to be on deposit in customer segregated accounts, failing to maintain sufficient U.S. dollars (USD) in customer segregated accounts in the United States to meet all USD-denominated obligations, and supervision failures. The CFTC’s Order also requires IB to cease and desist from violating CFTC Regulations, as charged.
IB, an on-line brokerage firm, is a Futures Commission Merchant and Retail Foreign Exchange Dealer with more than 140,000 customer accounts.
http://www.cftc.gov/PressRoom/PressReleases/pr6560-13
NFA Complaint: http://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3644
