German lender Deutsche Bank paid an A$2 million penalty after Australian regulator ASIC identified inaccurate reports covering 264,574 OTC derivative transactions, the watchdog announced on Monday.
The errors affected 20,483 outstanding transactions and 244,091 terminated or matured transactions between 21 October 2024 and 15 August 2025. They covered foreign exchange and commodities trades across 208 business days.
According to ASIC’s infringement notice announcement, the bank did not take every reasonable step needed to report the mandatory direction field accurately.
The field indicates whether the reporting entity is the effective buyer or seller at a specified price. ASIC said the errors were systemic and linked to weaknesses in Deutsche Bank’s internal reporting framework.
Rule 2.2.6 of the ASIC Derivative Transaction Rules (Reporting) 2024 requires information submitted to trade repositories to remain complete, accurate and current. Incorrect direction data reduces the quality of information used for market monitoring, systemic-risk oversight and possible market-abuse detection.
ASIC said it had reasonable grounds to believe Deutsche Bank breached the rules. Payment under an infringement notice does not constitute an admission of guilt or liability.
The bank cooperated with ASIC’s investigation and is implementing measures intended to prevent further reporting errors, according to the regulator.
