Ken Joseph Discusses $38M Broker Fine for Failure to Monitor Suspicious Activity

Ken Joseph, Global Head of the Disputes Consulting practice and Duff & Phelps Institute Fellow, was recently interviewed by Ignites following broker-deal Interactive Brokers’ $38 million fine for failing to adequately monitor for suspicious activity, including anti-money laundering.

According to Ken, this charge signals “to firms about the need to develop compliance programs that examine new areas where the business may be expanding.”

“This is very much a message case for all the other registrants out there,” Ken says, adding that “Covid-19 won’t make regulators ease up on supervising systems.”

Ignites subscribers can read the full article here.

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