Aussie regulator fines Deutsche Bank $2 million for trade reporting failures
What's happening
Deutsche Bank Aktiengesellschaft has paid a $2 million penalty after ASIC found the bank misreported more than 260,000 over-the-counter (OTC) derivative transactions, undermining the accuracy of data used to monitor Australia's financial markets. ASIC issued an infringement notice for breaches of the ASIC Derivative Transaction Rules, and this is the bank's second fine this year. Deutsche Bank did not admit guilt or liability in relation to the penalty.
Why it's trending
Because regulators are tightening enforcement on trade-reporting accuracy and large data-quality failures are being uncovered and fined now.
Signal2.0× its usual volume, confirmed across 1 independent source type.
Story volume
Stories per dayAngles you could write
If a global bank can misreport 260,000 OTC trades and pay just $2 million, maybe penalties aren't deterring sloppy data work, they're a cost of doing business.
+2 more angles for this topic with an account — all it takes is your email.
Original sources6
- Deutsche Bank fined $2M by Australian regulator
It’s the second fine this year for the German bank, though it did not admit guilt or liability.
Banking DiveJul 13 - ASIC fines Deutsche Bank $2m for systemic data breaches
Deutsche Bank Aktiengesellschaft has handed over a $2m penalty after misreporting in excess of 260,000 over-the-counter (OTC) derivative trades, a failure that compromised the quality of data relied upon to supervise Australia’s financial markets. The Australian Securities and Investments Commission (ASIC) served the lender with an infringement notice after uncovering breaches of the ASIC De
FinTech Global RegTechJul 13 - Aussie regulator fines Deutsche Bank $2 million for trade reporting failures
Multinational investment bank Deutsche Bank Aktiengesellschaft (Deutsche Bank) has paid a penalty of $2 million for misreporting more than 260,000 over-the-counter (OTC) derivative transactions, undermining the accuracy of data used to monitor Australia’s financial markets.
FinextraJul 13
+3 more sources for this topic
Create an account to follow the full coverage in the live radar.
More rising in Fintech
- Visa Plans 2,600 Job Cuts With Tech and Product Teams Most AffectedSurging4.7Surging4.7 momentum
- Circle Snaps Up IBM's Blockchain Patents In Move That Could Reshape Digital PaymentsClimbing3.3Climbing3.3 momentum
- X Money Launches with Ambitious Features—and Lingering QuestionsClimbing3.3Climbing3.3 momentum
- Keenai appoints Singapore head for broader push into South East AsiaSteady0.9Steady0.9 momentum
- Rent payment fintech Flexible Finance applies for bank licenseSteady0.9Steady0.9 momentum
- Wise Group shares tank after U.S. bank charter rejected. What’s next for the fintech.Climbing3.3Climbing3.3 momentum