This publication carries latest news from the Asia-Pacific wealth management sector.

Australia’s financial watchdog has imposed a A$20,000 ($15,326) fine on Deutsche Bank for not obeying an infringement notice linked to trade-messaging practices.

The penalty was imposed by the Australian Securities and Investments Commission.

“The penalty was for Deutsche Bank failing to make the necessary enquiry through the message facility of the ASX 24 Market and wait the prescribed period prior to entering orders for execution onto its trading platform as required by the relevant rule,” the watchdog said in a statement yesterday.

The Frankfurt-listed bank allegedly broke a rule under Australia’s Corporations Act 2001.