INTERACTIVE BROKERS FINED USD38 MILLION FOR AML FAILINGS
August 2nd, 2020
United States regulators have fined online investment service major Interactive Brokers a total USD38 million over a string of fraud and anti-money laundering failings. These penalties have come from parallel actions announced August 10: USD15 million to the Financial Industry Regulatory Authority (FINRA), and USD11.5 million each to the Securities & Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Dramatic growth between January 2013 and September 2018, saw Interactive Brokers become one of the largest electronic broker-dealers ...
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