Interactive Brokers confirms IBG LLC’s application for industrial bank authorization

Maria Nikolova

The applicant proposes to engage in business from existing commercial office space in South Jordan, Utah.


Online trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has earlier today posted a filing with the Securities and Exchange Commission (SEC), highlighting some interesting business plans.

On November 1, 2019, IBG LLC published a public notice in the Deseret News and the Salt Lake Tribune that it had filed an application with the Federal Deposit Insurance Corporation and the Utah Department of Financial Institutions on October 30, 2019 to form a new Utah industrial bank.

In accordance with Section 303.7 of the regulations of the Federal Deposit Insurance Corporation, and Utah Admin. Code R331-17-3, a public notice was given that IBG LLC has, on behalf of a proposed depository institution to be named Interactive Bank, filed an application for federal deposit insurance with the FDIC.

IBG LLC has also filed an application for authorization to commence business as an industrial bank with the Commissioner of the Utah Department of Financial Institutions. The applicant proposes to engage in business from existing commercial office space in South Jordan, Utah. The organizer of Interactive Bank is IBG, headquartered at One Pickwick Plaza, Greenwich, Connecticut, 06830.

Any person wishing to comment on IBG’s application may file his or her comments in writing with the regional director of the Federal Deposit Insurance Corporation at its San Francisco regional office located at 25 Jessie Street at Ecker Square, Suite 2300, San Francisco, CA 94105-2780, not later than 30 days after the date of publication of the notice, and with the Commissioner of the Utah Department of Financial Institutions, 324 South State Street, Suite 201, Salt Lake City, Utah 84111, not later than twenty days after the publication of the notice.

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