Interactive Brokers LLC REFUND TO CLIENTS
February 9, 2015
Dear Sir/Madam:
RE: Interactive Brokers LLC REFUND TO CLIENTS
On 8 December 2014, Interactive Brokers LLC offered an enforceable undertaking (EU) to the Australian Securities and Investments Commission (ASIC) under which it agreed to provide refunds of net fees to all retail clients who utilised margin lending facilities during the period from 1 July 2010 to 19 August 2013. You are receiving this letter because you have been identified as a retail client to whom Interactive Brokers will provide a refund.
Interactive Brokers offered the EU in response to ASIC's concerns about its margin lending activities. A copy of the EU and ASIC's media release can be found at
www.asic.gov.au.
Your Refund
The refund of net fees includes commissions and interest but not payments made by IB to third parties such as regulators, clearing houses and intermediaries. The refunds also do not include IB's cost of funds.
Your refund has been calculated as follows (all figures in Australian Dollars):
Client Name: xxx
Client Account Number: xxxx
Transaction Period: 01-JUL-10 to 10-AUG-10
Commission/Interest
Amount (AUD)
Commissions from margin transactions 881.53
Less fees paid to regulators, operators, intermediaries 87.41
Interest paid
2068.42
Less cost of funds 1400.32
TOTAL REFUND: 1462.21
Receiving Your Refund
As an existing client of Interactive Brokers, your refund will be paid into your Interactive Brokers account. You do not need to do anything further and may verify that payment has been made through review of your Daily Activity Statement.
Disputing Your Refund
If you have any questions about this letter or wish to contact Interactive Brokers directly, please telephone Interactive Brokers Client Services at +61 (2) 8093 7300 or send an email to
auclients@interactivebrokers.com..
If you wish to dispute your refund, you may also contact the Financial Ombudsman Service (FOS), an external complaints resolution body. You can contact FOS by telephone 1300 780 808, through their website
www.fos.org.au or in writing at:
Financial Ombudsman Service Limited
GPO Box 3
Melbourne Victoria 3001
You may also wish to quote our membership number to FOS, which is 11683.
Contacting Interactive Brokers
Again, if you have any questions about this letter or wish to contact Interactive Brokers directly, please telephone Interactive Brokers Client Services at +61 (2) 8093 7300 or send an email to
auclients@interactivebrokers.com..
Interactive Brokers Client Services
Interactive Brokers, member/regulated: NYSE, FINRA, SIPC, SEC, CFTC, NFA, IIROC FCA(#208159an), ASIC(#245574)
Message Reference Number: 18504681-150, Sent Date: 2015.02.09 13:36:42 -0500