ASIC fines Interactive Brokers A$832k over 'suspicious trades'
A trader used platform, which has NZ clients, to unusually trade in shares of an ASX-listed medtech company which held share price to high of day.
The trades were in ASX-listed Orthocell.
Interactive Brokers, a US-based platform for international trading which has clients in New Zealand, has been fined by the Australian Securities and Investment Commission for negligence on suspicious trades.
The ASIC Market Disciplinary Panel (MDP) yesterday issued an infringement notice with an
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