Openmarkets Australia Limited, one of Australia’s largest retail brokers, has paid A$4.5m ($3m) – the largest ever penalty imposed by the Markets Disciplinary Panel (MDP) – over “serious and very reckless” compliance failures, including findings of suspicious orders. The company has also entered into an enforceable undertaking to comply with an infringement notice issued
Openmarkets pays record A$4.5m penalty over poor surveillance

‘Serious and reckless’ compliance failures also see former Head of Trading banned.
