The Stock Market Is Broken, Now For All To See
Authored by Wolf Richter via WolfStreet.com,
The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been…
Article: It’s a perfect storm of stupid in the stock market right now
UncategorizedIt’s a perfect storm of stupid in the stock market right now
Linette Lopez
Business Insider, 21 May 2020
Close to 800,000 people have created new brokerage accounts on 3 out of 4 of America’s top brokerage platforms since the coronavirus pandemic hit the country.
Fined: Interactive Brokers Violation Tracker
FinedInteractive Brokers Violation Tracker
Parent Company Name: Interactive Brokers Group
Ownership Structure: publicly traded (ticker symbol IBKR)
Headquartered in: Connecticut
Major Industry: financial services
Specific Industry: stock brokerage
Penalty total since 2000: $1,256,000
Number of records: 5
Article: Interactive Brokers to pay $100,000 fine for allowing convicted felon to trade on its platform
Article - MediaInteractive Brokers to pay $100,000 fine for allowing convicted felon to trade on its platform
Maria Nikolova
Financefeeds, 11 February 2019
Three-time convicted financial felon Peter Zuck used Interactive’s online trading platform in a scheme to defraud New Jersey residents who invested in his Osiris Fund Limited Partnership.
Article: Interactive Brokers Unit Faces Fine for Naked Short Selling
Article - MediaInteractive Brokers Unit Faces Fine for Naked Short Selling
Nasdaq.com, 21 August 2018
A unit of Interactive Brokers Group , Interactive Brokers LLC, has been charged with violations of Regulation SHO and lack of proper supervisory measures. The Financial Industry Regulatory Authority (“FINRA”) has imposed a penalty of $5.5 million on the company.
Article: FINRA fines Interactive Brokers $5.5 million for short selling violations
Article - Media, PublicationsFINRA fines Interactive Brokers $5.5 million for short selling violations
Reuters Staff, 21 August 2018
(Reuters) – The Financial Industry Regulatory Authority (FINRA) has fined a unit of Interactive Brokers Group Inc IBKR.O $5.5 million for violating several naked short selling rules over a period of at least three years.
The unit, Interactive Brokers LLC’s, supervisory system, including its written supervisory procedures, was not reasonably designed to achieve compliance with the federal requirements from July 2012 through June 2015, said FINRA.
FINRA, Wall Street’s self-regulator, also said the company repeatedly ignored “red flags,” including internal audit findings and multiple internal warnings from its staff.
The regulator said Interactive neither admitted nor denied the charges while settling the matter.
Interactive Brokers was not immediately available for comment.
Article: Interactive Brokers Fined $5.5 Million for Naked Short Selling Violations
Article - MediaInteractive Brokers Fined $5.5 Million for Naked Short Selling Violations
Alexander Osipovich
The Wall Street Journal, 20 August 2018
A unit of Interactive Brokers Group Inc., one of the largest U.S. retail brokerages, has been fined $5.5 million over allegations that it broke federal rules on the “naked” short selling of stocks thousands of times over a three-year period.
