CFTC Orders Interactive Brokers LLC, a Registered Futures Commission Merchant, to Pay $700,000 for Large Trader Reporting and Supervision Violations

The CFTC today issued an order filing and settling charges against Interactive Brokers LLC, 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.

[SL Comment: As with many supervisory failures these days, the failure was caused in good part by insufficient or flawed technology.]

View release in full here(links externally to CFTC website).