Openmarkets pays record A$4.5m penalty over poor surveillance

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