Credit Suisse Slapped with $170,000 Penalty for Automated Lapses

[kreslik.news]

Credit Suisse Equities Limited, Credit Suisse’s Australian subsidiary, forked over a penalty of $170,000 following an infringement notice from the Markets Disciplinary Panel (MDP), per an Australia Securities and Investments Commission (ASIC) filing.

The MDP operates as ASIC’s forum for disciplinary action against participant and market operators for alleged breaches of market integrity rules. The body is peer reviewed, and consists of an assortment of part-time members with relevant market or professional experience.

The infringement notice stemmed from a discrepancy surrounding Credit Suisse Limited’s automated filters, as part of its automated order processing (AOP) systems. More specifically, the MDP believed that Credit ... (read more)