Buy-sider brands ASIC agreements laughable
Australian regulator's enforceable undertaking agreements hint at highly divergent rules enforcement globally
The Australian financial regulator’s decision to agree up to $3 million of “enforceable undertakings” against the country’s four largest banks for disclosing confidential client information, and systems and controls failings is laughable in comparison to the fines imposed by regulators in the US and the UK, said a large buy-side market participant at the FX Week Australia conference in Sydney.
The Australian Securities and Investments Commission (ASIC) announced in mid-March that it had agreed
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