In March 2022, IBI conducted a securities business while failing to maintain its minimum required net capital. As a result, IBI violated the Securities Exchange Act of 1934 § 15(c), Exchange Act Rule 15c3-1, and FINRA Rules 4110 and 2010. During the same period, the firm recorded its net capital inaccurately on its books and records, and filed inaccurate FOCUS reports, in violation of Exchange Act§ 17(a), Exchange Act Rules 17a-3 and 17a-5, and FINRA Rules 4511 and 2010.