J.P. Morgan Securities Australia fined A$775,000 by ASIC for allowing manipulative wheat futures trades.
J.P. Morgan Securities Australia has been fined A$775,000 for allowing suspect client orders on wheat futures trading, which manipulated the market. The Australian Securities and Investments Commission (ASIC) found the company failed to identify suspicious trades and acted carelessly. The orders were placed with the intention to manipulate the market and influence daily settlement prices of a derivative contract.
May 08, 2024
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