The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced an $11.8 million settlement with Interactive Brokers. This settlement addresses possible violations of several sanctions programs.
The agreement resolves issues related to the company's compliance with US sanctions regulations. Such regulatory actions highlight the ongoing compliance challenges faced by global financial institutions.
While the company reached a settlement, the financial penalty is a notable event impacting its operations and regulatory standing.
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