SEC Charges Interactive Brokers With Repeatedly Failing to File Suspicious Activity Reports

[ajacobson]

https://www.sec.gov/news/press-release/2020-178

 

[wrbtrader]

https://www.sec.gov/news/press-release/2020-178

38 million dollars is a big fine for IB.

wrbtrader

 

[Dazz]

there are 64 FCMs listed; IB is 11th with $4.96BB adjusted net capital; I hope $38MM gets their attention.

 

[Millionaire]

Cost of doing business. Have to handover some protection money to the feds every now and then.

 

[TrailerParkTed]

Cost of doing business. Have to handover some protection money to the feds every now and then.

As long as their platform remains stable and the best phone app, It’s all good?

 

[athlonmank8]

Hahah that is definitely one thing IB likes to overlook

 

[Real Money]

Tax deductible.

 

[d08]

Nonsense designed to strangle foreign holders. Government agencies like to give the impression of doing something important while just punishing the smaller fish.

Same agency that blamed the Flash Crash on one Indian trader living with his mom in the UK. Credibility approaching zero. NYC hedge funders doing insider trading all day and partying on their yachts.

 

[ajacobson]

"Tax deductible."

Fines and disgorgement are not tax-deductible for the US regulated.

 

[Tradex]

38 million dollars is a big fine for IB.

They will live, don't worry about them...