Print this article

Australia Fines Deutsche For Infringement Notice Violation

Tom Burroughes

14 April 2016

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.