Barclays Bank PLC is the most recent group to pay a penalty to ASIC.
The group paid $80,000 to comply with an MDP infringement notice for erroneously withdrawing $13.8 million of client monies from the Barclays' Client Segregated Account instead of its own account on 27 January 2011, without authorisation and failing to return the client monies for five business days.
Barclays is alleged to have contravened subsection 798H(1) of the Corporations Act 2001 by reason of contravening rule 2.2.6(d) of the ASIC Market Integrity Rules 2010, the MDP said in a statement.
Late last month, Commonwealth Bank of Australia (CBA) was forced to pay a $50,000 fine to ASIC over an infringement involving its broking platform, Commonwealth Securities (CommSec).
CommSec was found to have executed 48 crossings that involved no change in beneficial ownership in the fully paid, ordinary shares of Oaks Hotels & Resorts Limited (OAK). This allegedly interfered with the efficiency and integrity of the Australian Securities Exchange market.
Also in September, Credit Suisse Equities Australia Limited was fined $52,000 for erroneously initiating a Credit Suisse trading strategy with an instruction to purchase ordinary shares in Celamin Holdings NL into the incorrect trading system within Credit Suisse's automated order processing system.
The MDP is a peer review body that exercises ASIC's power to issue infringement notices and accept enforceable undertakings in relation to alleged breaches of the market integrity rules.
