FCA fines UK arm of Interactive Brokers £1m for failing to report suspicious trades
Over one year period
FCA fines Interactive Brokers UK £1m
The Financial Conduct Authority (FCA) has fined the UK arm of Interactive Brokers (IBUK) over £1m for failing to identify and report suspicious trades during a one-year period.
Between February 2014 and February 2015, the FCA found "serious and systemic weaknesses" within the firm's post-trade monitoring systems meaning it was prone to not submitting suspicious transaction reports...
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