Interactive Brokers, LLC Fined for Filing Failures

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In May 2015, Interactive Brokers, LLC signed a letter of Acceptance, Waiver and Consent with the Financial Industry Regulatory Authority (FINRA) in response to FINRA findings that the firm accepted a short sale order in an equity security, or effected a short sale in an equity security for its own account, but did not borrow the security or execute a bona-fide agreement by which it could borrow the security so that the firm could deliver the security on the delivery due date, failing to document compliance with Rule 203(b)(1) of Regulation SHO.

Interactive Brokers did not admit or deny the FINRA findings, but agreed to pay a $17,500 fine to settle the matter.

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Andrei Rado, Esq.
Milberg LLP
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New York, NY 10119-0165
Phone number: (800) 320-5081
Email: contactus@milberg.com

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