Openmarkets pays record A$4.5m penalty over poor surveillance

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

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

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