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
