Australia Regulator Fines Macquarie Bank $3.5 Million

AUSTRALIA - SYDNEY. Australia's Markets Disciplinary Panel has fined Macquarie Bank A$5 million ($3.5 million) for failing to prevent suspicious orders being placed on the electricity futures market, the country's securities regulator said on Wednesday.

On 50 occasions, from January to September 2022, Macquarie breached market integrity rules by permitting three of its clients to place suspicious orders, according to the Australian Securities and Investments Commission (ASIC).