ASIC Imposes $40,000 Infringement Notice Penalty on Pershing Securities

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) has published a statement announcing that Pershing Securities Australia Pty has paid a penalty of $40,000 to comply with an infringement notice issued by the Markets Disciplinary Panel (MDP).

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The penalty was imposed on the firm as the MDP had sufficient grounds to believe that Pershing contravened the Corporations Act by failing to comply with the ASIC Market Integrity Rules (ASX Market) 2010. This states that trading participants are required to have appropriate automated filters for their automated order ... (read more)