ASIC fines Deutsche Bank $2m over reporting failures
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The news: Deutsche Bank has paid a $2 million penalty to the Australian Securities and Investments Commission for misreporting more than 260,000 over-the-counter (OTC) derivatives transactions.
The context: The regulator issued the infringement notice after identifying systemic data errors that breached the ASIC Derivative Transaction Rules (Reporting) 2024.
This comes after the watchdog found reasonable grounds to believe that the investment bank failed to take necessary steps to accurately report ‘direction’ data fields impacting 20,483 outstanding transactions and 244,091 terminated or matured transactions, OTC foreign exchange and commodities contracts across 208 business days between October 2024 to August 2025.
ASIC considers the reporting failures to be systemic, reflecting deep deficiencies in Deutsche Bank’s internal reporting frameworks.
The regulator noted that Deutsche Bank has cooperated fully with the investigation, paid the penalty and is currently implementing measures to prevent further reporting errors.
The source: ASIC
