The corporate regulator has announced that CommSec has paid a $15,000 fine to comply with an infringement notice outlining the CBA subsidiary’s failure to “prepare and provide accurate Crossing System Monthly Reports to ASIC”.
CommSec was found to have contravened ASIC’s Market Integrity Rules in failing to provide all the required information pertaining to its operation of a ‘crossing system’, in a series of reports dating from March 2012 to June 2013.
The announcement follows a $55,000 penalty paid by CommSec in March relating to a separate breach of market integrity rules.
CommSec entered an EU with ASIC in December 2013.
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