Cong v. Interactive Brokers (FINRA Case No.: 21-02593)

FINRA panel authorizes hold on customer account.

The claimant alleged that the respondent broker-dealer failed to return the cash balance in the claimant’s account after the account closed. The FINRA Panel found that this case was filed by the claimant after the respondent initiated a compliance review of the account for potential suspicious activity. As required by the account agreement signed by her, the claimant failed to cooperate with the respondent’s investigation. Based on the documents submitted by the respondent, the respondent was within its right to place a hold on the claimant’s account.


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