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Interactive Brokers reports $19M in Brexit-related costs in Q1 2021
Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has filed its latest quarterly report with the Securities and Exchange Commission (SEC). The document shows that general and administrative expenses, for the first quarter of 2021, increased $22 million, or 59%, compared to the prior year quarter, to $59 million. This is primarily due to $19 million in additional costs for Brexit-related regulatory onboarding to bring Interactive Brokers’ new brokerage operations on line in Europe. Let’s recall that, on December 23, 2020, Interactive Brokers announced that it had secured the authorization by ... (full story)