UBS Securities fined $280,000 by ASIC

UBS Securities fined $280,000 by ASIC

UBS Securities Australia has paid $280,000 in penalties for trading infringements imposed by ASIC’s Markets Disciplinary Panel.


ASIC has issued two infringement notices of $140,000 to UBS Securities for separate breaches of the regulator's market integrity rules.

The first infringement relates to the operation, use and monitoring of a 'crossing system' known as UBS Price Improvement Network.

The second infringement relates to incorrect disclosures in crossing confirmations about execution venue and trading as principal, and the provision of incorrect regulatory data to market operators.

UBS Securities has paid both penalties for a total fine of $280,000.

ASIC said the company's compliance with the infringement notices is not an admission of guilt or liability, and UBS is not taken to have contravened the Corporations Act.

Read more:

Fidante boutique appoints analyst

Macquarie closes direct robo-advice service

LIC growth ‘unsustainable’, says Zenith

US Fed’s errors ‘unforgivable’: Standard Life

ASIC industry funding model passes Senate

 

UBS Securities fined $280,000 by ASIC
investordaily image
ID logo
promoted stories

Appointments

Blake Briggs

FSC loses two senior policy managers

Tim Stewart

John Patrick Moorhead

AMP Capital appoints new CFO

Staff Reporter

Phoebe Ieong

BNY Mellon appoints head of distribution, APAC

Staff Reporter

Analysis

Doug Morris

What a blockchain-powered ASX should mean

Doug Morris

Lucy O’Carroll

Separating the signals from the noise

Lucy O’Carroll

Dan Bosscher

Could passive investing have structural issues?

Dan Bosscher