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.
If you would like to learn more about this potential matter, please fill out the form on the right or contact the following attorney:
Andrei Rado, Esq.
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Milberg LLP has been representing consumers and investors for more than four decades and serves as lead counsel in federal and state courts throughout the United States.
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