INTERACTIVE BROKERS L.L.C.

10/22/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2021069316201 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Interactive Brokers LLC (Respondent) Member Firm CRD No. 36418 Pursuant to FINRA Rule 9216, Respondent Interactive Brokers LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2021069316201finra.orgdata-portal.finra.org

10/18/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20140412354-04 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "Firm" or "Respondent") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the

Reference 2014041235404data-portal.finra.orgfinra.org

03/06/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20110276554-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC'') for the purpose of proposing a settlement of the alleged rule violations

Reference 2011027655401data-portal.finra.orgfinra.org

06/06/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100225820 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC, submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that,

Reference 2010022582001data-portal.finra.orgfinra.org

08/10/2020: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2015047770301 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Interactive Brokers LLC, Respondent Member Firm CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, Respondent Interactive Brokers LLC (“Interactive Brokers” or the “Firm”) submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2015047770301finra.orgdata-portal.finra.org

01/11/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20130363000 -01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC

Reference 2013036300001data-portal.finra.orgfinra.org

01/15/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20080141953-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2008014195301data-portal.finra.orgfinra.org

12/22/2023: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2014041809401 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Interactive Brokers LLC (Respondent) Member Firm CRD No. 36418 Pursuant to FINRA Rule 9216, Respondent Interactive Brokers LLC (Interactive) submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2014041809401finra.orgdata-portal.finra.org

10/31/2025: From at least December 2017 to March 2022, Interactive Brokers failed to provide certain of its customers with a consolidated display containing all required market data elements at the point of order entry on its trading platforms. As a result, the firm violated Rule 603(c) of Regulation National Market System (NMS) under the Securities Exchange Act of 1934 and FINRA Rule 2010. In addition, from at least December 2017 to December 2022, Interactive Brokers failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with Rule 603(c) of Regulation NMS. As a result, the firm violated FINRA Rules 3110 and 2010. For these violations, Interactive Brokers is censured and fined $150,000.

Reference 2019062038101data-portal.finra.orgfinra.org

08/17/2018: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2014043143401 TO: Department of Enforcement Financial Industry Regulatory Authority (“FINRA”) RE: Interactive Brokers LLC, Respondent CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, Interactive Brokers LLC ("Interactive" or the "Firm"), submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement

Reference 2014043143401finra.orgdata-portal.finra.org

10/15/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE WAIVER AND CONSENT NO. 20120331298-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is

Reference 2012033129801data-portal.finra.orgfinra.org

09/29/2025: Between January 2022 and October 2024 (the relevant period), Interactive Brokers failed to establish and maintain a supervisory system, including written procedures, reasonably designed to achieve compliance with the firm's obligation to disclose to customers, at or prior to the time of trade, all material information concerning municipal securities transactions, including instances in which a municipal bond is trading at a market discount. Further, Interactive Brokers failed to provide material time of trade disclosures regarding certain market discounts to 130 customers in 1,918 transactions. As a result, Interactive Brokers violated MSRB Rules G-27 and G-47. For these violations, Interactive Brokers is censured and fined $125,000.

Reference 2023077041401data-portal.finra.orgfinra.org

04/05/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100234784-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC ("IBKR" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2010023478401finra.orgdata-portal.finra.org

06/06/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100239887-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC ("IBKR" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2010023888701data-portal.finra.orgfinra.org

12/30/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2022075315101 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Interactive Brokers, LLC (Respondent) Member Firm CRD No. 36418 Pursuant to FINRA Rule 9216, Respondent Interactive Brokers, LLC (Interactive) submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2022075315101finra.orgdata-portal.finra.org

05/02/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 201203213148-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent (''AWC") for the purpose of proposing a settlement

Reference 2012034314801finra.orgdata-portal.finra.org

12/22/2011: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20070104656-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is

Reference 2007010465601data-portal.finra.orgfinra.org

04/30/2025: From January 2020 through at least June 2022, Interactive Brokers failed to report to FINRA accurate statistical and summary information regarding written customer complaints. Prior to at least June 2022, the firm’s supervisory system, including written procedures, was not reasonably designed to achieve compliance with FINRA Rule 4530(d). As a result, the firm violated FINRA Rules 4530, 3110, and 2010. From July 2011 to September 2022, Interactive Brokers failed to timely report 91 regulatory actions and civil complaints. From March 2012 to February 2022, Interactive Brokers failed to file amendments to its Uniform Application for Broker-Dealer Registration disclosing 12 foreign regulatory actions against the firm’s foreign affiliates. As a result, the firm violated Article IV, Section 1(c) of FINRA’s By-Laws and FINRA Rules 4530, 1122, and 2010. For these violations, Interactive Brokers is censured, fined $400,000, and has agreed to undertake corrective action.

Reference 2022073912501data-portal.finra.orgfinra.org

05/05/2006: NASD LETTER OF ACCEPTANCE, WAIVER AND CONSENT 2004200002501 TO: Market Regulation Department NASD RE: Interactive Brokers LLC, Respondent CRD No. 36418 Pursuant to Rule 9216 of NASD Code of Procedure, Interactive Brokers LLC ("IBKR") submits this Letter of Acceptance, Waiver and Consent ("AWC) for the purpose of proposing a settlement of the alleged rule violations described in Part II below. This AWC is submitted on the condition that

Reference 2004200002501data-portal.finra.orgfinra.org

08/21/2025: Between November 2019 and December 2024, Interactive Brokers failed to exercise reasonable due diligence before approving certain customer accounts that were not managed or advised by financial advisors or other third-parties (Self-Directed Customers) to trade options. During this period, the firm used a primarily automated system to approve or disapprove customers for options trading. However, the firm’s system was not reasonably designed and the firm approved certain Self-Directed Customers for options trading despite red flags that options trading was potentially inappropriate for them, as described below. The firm thus violated FINRA Rules 3110, 2360, and 2010.

Reference 2021071984801finra.orgdata-portal.finra.org

06/05/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY FINRA LETTER OFACCEPTANCE, WAIVER AND CONSENT NO. 20120347112-01 TO: Department of Market Regulation Financial Industry Regulatory Authority (“FINRA") RE: Interactive Brokers LLC, Respondent Broker-Dealer CRD No. 36418 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Interactive Brokers LLC (the "firm" or “IBKR”) submits this Letter of Acceptance, Waiver and Consent (“AWC") for the purpose of proposing a settlement of the alleged

Reference 2012034711201data-portal.finra.orgfinra.org