JP Morgan fined A$775,000 for failing to stop market manipulation
The regulator spotted the market manipulation and informed JP Morgan of the breaches, which was then slow to respond.
A JP Morgan client tried to manipulate the price of Eastern Australia Wheat futures January 2023 contracts.
JP Morgan Securities Australia’s failure to detect and stop suspicious orders that were used to try and manipulate wheat futures on the ASX24 has resulted in Australian Securities and Investment Commission (Asic) fining it A$775,000 ($849,000).
Between January 11, 2022 and March 3, 2022, a client
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