A unit of Interactive Brokers Group Inc., one of the largest U.S. retail brokerages, has been fined $5.5 million over allegations that it broke federal rules on the “naked” short selling of stocks thousands of times over a three-year period. Wall Street’s self-regulator, the Financial Industry Regulatory Authority, announced the fine on Monday. The company’s securities brokerage unit, Interactive Brokers LLC, neither admitted nor denied wrongdoing as part of the settlement.

Source: Wall Street Journal August 20, 2018 21:00 UTC