Credit Suisse AG pays $88,400 infringement notice penalty
The Australian Securities and Investments Commission has published the following announcement regarding a fine charged against Credit Suisse AG:
Credit Suisse AG (“Credit Suisse”) has paid a penalty of $88,400 to comply with an infringement notice given to it by the Markets Disciplinary Panel (“MDP”). The penalty was for:
- offering and allocating an Error Trade to a Client in circumstances where that Trade had not been obtained under instructions previously obtained from that Client;
- acting in a manner which had a detrimental effect on that Client’s best interests; and
- failing to maintain a separate record of that Error Trade.
Source: ASIC
