SFC Reprimands, Fines Interactive Brokers Hong Kong

[kreslik.news]

Hong Kong’s Securities and Futures Commission (SFC) on Wednesday fined ‎Interactive Brokers Hong Kong Limited, the arm of US brokerage ‎Interactive Brokers ‎‎(IB), HK
$4.5 million for internal control failures ‎between 2015 and 2016.‎

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The commission also reprimanded the company for failing to have ‎adequate internal controls in place to prevent its execution of market ‎orders from disrupting the market, and for a lack of ‎documentation for its electronic trading systems.‎

In the investigation, the SFC found irregular price movement of two stocks, which shot ‎higher ... (read more)