Ord Minnett hit with $888,000 fine
Elouise FowlerReporter
Stockbroker Ord Minnett has paid a penalty of $888,000 for “pre-arranged” equity trades that allegedly breached market integrity rules twice.
The Australian Securities and Investments Commission slapped the infringement notice on Ord Minnett for executing the pre-arranged trade during an on-market buyback in September 2021, using information that was not available to the wider market.
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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au
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