Registered: Jan 2012
05-24-12 02:17 PM
i have an account with ib and ever since mf global i get concerned about reports like this:
Interactive Brokers Group, Inc. (the "Company") received a letter from the NASDAQ staff, on May 17, 2012, notifying the Company that it is non-compliant with NASDAQ Listing Rule 5250(c)(1) because its Quarterly Report on Form 10-Q for the period ended March 31, 2012 ("Form 10-Q"), filed with the Securities and Exchange Commission ("SEC") on May 15, 2012, has not yet been reviewed in accordance with Statement on Auditing Standards No. 100 ("SAS 100"), as required by Rule 10-01 of Regulation S-X. The NASDAQ letter also stated that the filing is incomplete because of the absence of the certifications required under Sections 302 and 906 of the Sarbanes-Oxley Act of 2002.
whats further concerning is the following:
NASDAQ Listing Rule 5250(c)(1) requires the Company to timely file all required periodic financial reports with the SEC. The Company is required to submit a plan to regain compliance to NASDAQ by July 16, 2012. If NASDAQ accepts the Companys plan, an additional cure period of up to 180 calendar days from the filings due date, or until November 12, 2012, can be provided to allow the Company to regain compliance.
So it could be until November of 2012 until we know the true financial condition of interactive brokers.
I dont know what to make of this; but is concerning to me given what happen to mf global... perhaps its nothing to worry about; but would like hear what others think.