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Interactive Brokers to pay US$38 million in series of regulatory settlements: SEC

Interactive Brokers to pay US$38 million in series of regulatory settlements: SEC

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File Photo

WASHINGTON: Interactive Brokers LLC will pay US$38 million to U.S. regulators to resolve charges the firm repeatedly failed to file key reports and to settle charges related to anti-money laundering failures, the U.S. Securities and Exchange Commission (SEC) said in a statement on Monday.

The firm will pay a US$11.5 million for charges it repeatedly failed to file suspicious activity reports for U.S. microcap securities trades executed for customers, the SEC said in a statement.

In parallel actions, the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC) said they had agreements with Interactive Brokers related to anti-money laundering failures in which the broker-dealer agreed to pay penalties of US$15 million and US$11.5 million, respectively, the statement said.

(Reporting by Jonathan Stempel in New York and Chris Prentice in Washington)

Source: Reuters

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