September 29, 2023
Interactive Brokers Corp.
, an introducing broker, and Interactive Brokers LLC
, a futures commission merchant, has been ordered to pay $20 million
to the CFTC and $35 million
to the SEC to resolve charges of failing to maintain and preserve records. The records included communications through unapproved channels, such as text and WhatsApp, which employees at all levels used and which the company failed to maintain and preserve. The SEC also resolved charges against other firms for similar misconduct, including Robert W. Baird & Co. Inc.
); William Blair & Company LLC
and William Blair Investment Management LLC
); Nuveen Securities LLC
); Fifth Third Securities Inc.
); and Perella Weinberg Partners LP
, Tudor, Pickering, Holt & Co. Securities LLC
, and Perella Weinberg Partners Capital Management LP