August 20, 2018 BY LeapRate Staff

Interactive Brokers fined $5.5 million for Reg SHO naked short sale violations

U.S. brokerage industry regulator FINRA has announced that it has fined Interactive Brokers LLC $5.5 million for Regulation SHO violations and supervisory failures spanning a period of at least three years. To limit ongoing naked short positions, firms are required by the SEC’s Reg SHO, after completion of a short sale transaction, to deliver the…

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