Deutsche Bank Penalised $2 Million Over Reporting Breaches
Synopsis
ASIC found systemic deficiencies in the bank's derivatives reporting processes, affecting more than 260,000 OTC transactions.
Key Highlights
- ASIC has hit Deutsche Bank with a $2 million penalty for breaches in reporting OTC derivatives transactions.
- Between October 2024 and August 2025, over 260,000 transactions were misreported.
- ASIC said the failures were systemic weaknesses in the bank’s reporting framework.
The Australian Securities and Investments Commission (ASIC) yesterday issued a $2 million fine to Deutsche Bank after the investment bank admitted it misreported 260,000 over-the-counter; OTC derivatives transactions.
ASIC issued the infringement notice after discovering a series of systemic data errors amounting to contraventions of the ASIC Derivative Transaction Rules (Reporting) 2024.
More Than 260,000 Transactions Affected
ASIC said it had reasonable grounds to believe Deutsche Bank had not taken all reasonable steps to ensure its systems recorded that the ‘direction’ data fields were accurately reported.
Data fields impacted 20,483 outstanding transactions and 244,091 terminated or matured transactions for OTC foreign exchange and commodities contracts across 208 business days from October 2024 through August 2025.
ASIC Identifies Systemic Reporting Issues
It said reporting failures were systemic and illustrated serious weaknesses in Deutsche’s internal reporting frameworks. ASIC stated Deutsche Bank had cooperated fully with the investigation, paid the $2 million and is taking steps to avoid inaccurate reporting in future.
Source: Capital Brief
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