Macquarie Securities (Australia) Limited has paid a penalty of $505,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC announced earlier today. The MDP had reasonable grounds to believe that Macquarie had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply with the ASIC…
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UBS Securities Australia Limited has paid penalties totalling $280,000 to comply with two infringement notices given to it by the Markets Disciplinary Panel (the MDP), ASIC announced earlier today. The first infringement notice ($140,000) relates to the operation, use and monitoring of a crossing system known as UBS Price Improvement Network (UBS PIN). The second…
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Citigroup Global Markets Australia Pty Ltd has paid a penalty of $50,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP announced that had reasonable grounds to believe that Citigroup had contravened subsection 798H(1) of the Corporations Act 2001 by failing to comply with Rules 3.1.7(1), 3.1.10,…
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Share Investing Limited has paid a penalty of $130,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Share Investing had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply with Rule 5.7.1(b)(iii) of the ASIC Market…
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Pershing Securities Australia Pty Ltd has paid a penalty of $40,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC just announced. In December 2015, a market-making client of Pershing with direct market access through their AOP system had entered orders into the trading platform of ASX in…
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ASIC has commenced civil penalty proceedings against State One Stockbroking Ltd in the Federal Court of Australia in Perth for failing to comply with two ASIC Market Integrity Rules (ASX Market) 2010 (MIRs), following State One's failure to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). ASIC alleges that…
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