News Centre

FINRA Fines Interactive Brokers $15 Million For Widespread AML Failures

Date 10/08/2020

FINRA announced today that it has fined Interactive Brokers LLC $15 million for widespread failures in the firm’s anti-money laundering (AML) program, which persisted for more than five years. As part of the settlement, FINRA also required Interactive Brokers to certify that it will implement the recommendations of a third-party consultant to remedy the firm’s AML program failures. Also today, the Securities and Exchange Commission, and Commodity Futures Trading Commission announced disciplinary actions fining Interactive Brokers $11.5 million for AML failures, resulting in more than $38 million in total fines and other penalties.

Autorité Des Marchés Financiers Seeking Applications For Two Positions On The Distribution Practices Advisory Committee

Date 10/08/2020

The Autorité des marchés financiers (“AMF”) is seeking applications for two positions on its Distribution Practices Advisory Committee (the “Committee”).

BSX Announced As Winner Of CFI.co 2020 Award For Best Offshore Securities Exchange (Caribbean & North Atlantic Region)

Date 10/08/2020

The Bermuda Stock Exchange (BSX) today announced that they have been named as the winner of the CFI.co 2020 award for Best Offshore Securities Exchange (Caribbean & North Atlantic Region).

Nasdaq CFO Michael Ptasznik To Present At UBS Financial Services Virtual Conference 2020

Date 10/08/2020

Who:Nasdaq CFO Michael Ptasznik    

What:UBS Financial Services Virtual Conference 2020    

When:Wednesday, August 12, 2020  1:20 PM ET     

Mr. Ptasznik’s presentation will be webcast at Nasdaq’s Investor Relations Website: ir.nasdaq.com/events.cfm

Chainalysis Launches Certified Investigative Partnership Program To Meet Demand For Cryptocurrency Investigation Services

Date 10/08/2020

Chainalysis, the blockchain analysis company, today announced the addition of ‘Certified Investigative Partners’ to their broader partnership program, which the firm launched in April. Through these partnerships, Chainalysis will work with international cryptocurrency investigative specialists to help investigators, compliance officers, analysts, and regulators perform blockchain analysis to derive actionable intelligence and data using the investigative software Chainalysis Reactor.

Saudi G20 Presidency And BIS Innovation Hub Update On The Progress Made In The G20 TechSprint Initiative

Date 10/08/2020

• Twenty teams have been shortlisted in the hackathon-style competition out of 128 submissions from 35 countries.
• Judging panel includes private and public sector experts in the field of financial sector data and technology.
• The initiative highlights the potential of new technology to tackle regulatory and supervisory challenges.

UK Financial Conduct Authority: High Court Orders Illegal Pension Introducers Avacade, Alexandra Associates And Their Directors To Pay £10,715,000 Restitution To Consumers

Date 10/08/2020

SEC Charges Interactive Brokers With Repeatedly Failing To File Suspicious Activity Reports - Firm Will Pay A Total Of $38 Million In Penalties To Settle With Regulators

Date 10/08/2020

The Securities and Exchange Commission today announced that Interactive Brokers LLC will pay an $11.5 million penalty to settle charges it repeatedly failed to file Suspicious Activity Reports (SARs) for U.S. microcap securities trades it executed on behalf of its customers. In parallel actions, the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC) today announced settlements with Interactive Brokers related to anti-money laundering failures in which the registered broker-dealer agreed to pay penalties of $15 million and $11.5 million, respectively, for a total of $38 million in penalties paid to the three agencies.

CFTC Orders Interactive Brokers LLC To Pay More Than $12 Million For Anti-Money Laundering And Supervision Violations - First Case To Charge Violations Of CFTC’s Bank Secrecy Act Compliance

Date 10/08/2020

The Commodity Futures Trading Commission today filed and simultaneously settled charges against Interactive Brokers LLC, a registered futures commission merchant (FCM), for failing to diligently supervise its officers’, employees’, and agents’ handling of several commodity trading accounts and failing to adequately implement procedures to detect and report suspicious transactions as required under federal anti-money laundering (AML) laws and regulations. Brought in connection with the Division of Enforcement’s Bank Secrecy Act Task Force, this case marks the first CFTC enforcement action charging a violation of Regulation 42.2, which requires registrants to comply with the Bank Secrecy Act.

Federal Reserve Board Announces Individual Large Bank Capital Requirements, Which Will Be Effective On October 1

Date 10/08/2020

Following its stress tests earlier this year, the Federal Reserve Board on Monday announced individual large bank capital requirements, which will be effective on October 1.