XML 23 R21.htm IDEA: XBRL DOCUMENT

Regulatory Requirements

9 Months Ended

Sep. 30, 2019

15. Regulatory Requirements

As of September 30, 2019, aggregate excess regulatory capital for all of the Operating Companies was $6.2 billion.

IB LLC, TH LLC and IB Corp are subject to the Uniform Net Capital Rule (Rule 15c3-1) under the Exchange Act, IB LLC is also subject to the CFTC’s minimum financial requirements (Regulation 1.17), and IBKRFS is subject to the Swiss Financial Market Supervisory Authority eligible equity requirement. IBA is subject to the Australian Securities Exchange liquid capital requirement, THC and IBC are subject to the Investment Industry Regulatory Organization of Canada risk adjusted capital requirement, IBUK is subject to the United Kingdom Financial Conduct Authority Capital Requirements Directive, IBHK is subject to the Hong Kong Securities Futures Commission liquid capital requirement, IBI is subject to the National Stock Exchange of India net capital requirements and IBSJ is subject to the Japanese Financial Supervisory Agency capital requirements. The following table summarizes capital, capital requirements and excess regulatory capital:



	Net Capital/
	Eligible Equity		Requirement		Excess

	(in millions)
IB LLC	$	5,386	$	422	$	4,964
TH LLC		44		—		44
IBKRFS		572		94		478
Other regulated Operating Companies		828		137		691
	$	6,830	$	653	$	6,177

Regulatory capital requirements could restrict the Operating Companies from expanding their business and declaring dividends if their net capital does not meet regulatory requirements. Also, certain Operating Companies are subject to other regulatory restrictions and requirements.

As of September 30, 2019, all of the regulated Operating Companies were in compliance with their respective regulatory capital requirements.