UBS Pays $120,000 for “Careless” Conduct on the ASX

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) announced today that UBS Securities Australia Limited (UBS) has paid a penalty of AU$120,000 ($87,408) to comply with an infringement notice given by the Markets Disciplinary Panel (MDP), a peer review panel.

The matter is in regards to a number of transactions relating to six on-market buy-backs on the Australian Securities Exchange (ASX) which UBS’ brokerage unit conducted in 2017. The MDP found that not only were these not in the ordinary course of trading, but they also did not follow the client’s instructions.

[b]Join the iFX EXPO ... ([url=https://www.financemagnates.com/institutional-forex/regulation/ubs-pays-120000-for-careless-conduct-on-the-asx/]read more)