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CFTC Orders Interactive Brokers to Pay $700,000 for Large Trader Reporting and Supervision Violations
The U.S. Commodity Futures Trading Commission (CFTC) today issued an order filing and settling charges against Interactive Brokers LLC (Interactive), a futures commission merchant based in Greenwich, Conn., for filing inaccurate large trader reports and failing to diligently supervise the handling and reporting of accounts. The CFTC order, filed on July 25, 2012, requires Interactive to pay a $700,000 civil monetary penalty and prohibits Interactive from violating Section 4g of the Commodity Exchange Act and CFTC Regulations 17.00, 17.01, and 166.3, as charged. The CFTC order finds that from in or about January 2008 ... (full story)