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CFTC orders E*TRADE Securities and E*TRADE Clearing to pay $280,000

Staff Writer |
The U.S. Commodity Futures Trading Commission (CFTC) issued an Order filing and settling charges against E*TRADE Securities LLC (E*TRADE Securities), an Introducing Broker, and E*TRADE Clearing LLC (E*TRADE Clearing), a Futures Commission Merchant.

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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.

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