Client’s Manipulative Orders Cost Interactive Brokers $250,000
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Client’s Manipulative Orders Cost Interactive Brokers $250,000
The Australian Securities and Investments Commission (ASIC) penalized Interactive Brokers. The brokerage is set to pay an infringement notice penalty of
$250,000. The decision was taken by the watchdog’s Markets Disciplinary Panel (MDP).
The regulator’s body asserts that Interactive Brokers breached the market integrity rules of ASIC, by preventing to detect a set of manipulative practices that a client of the company engaged in. According to the MDP, Interactive Brokers failed to detect and prevent the manipulative behavior of its client, therefore breaching ASIC’s Market Integrity Rules for the Chi-X Australia Market.
Manipulative Trading
Under the regulations, brokers need ... (read more)
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