CFTC orders E*TRADE Securities and E*TRADE Clearing to pay $280,000
The order is for non-compliance with applicable record-keeping rules and failure to diligently supervise. Both entities have their headquarters in Chicago, Illinois.
The CFTC Order finds that between October 2009 and January 25, 2014, E*TRADE Securities did not preserve and maintain certain audit trail logs for their customers.
Similarly, E*TRADE Clearing did not preserve and maintain customer audit trail logs after becoming registered as a Futures Commission Merchant in February 2013. ■