Deutsche Bank fined A$2 mn by ASIC for OTC derivative misreporting
Australia’s securities regulator, the Australian Securities and Investments Commission (ASIC), issued an infringement notice to Deutsche Bank and levied a penalty of A$2 million (approximately US$1.3 million). The fine stems from the bank’s failure to accurately report the ‘direction’ fields for more than 260,000 over‑the‑counter (OTC) derivative transactions, comprising 20,483 outstanding trades and 244,091 terminated or matured trades. These reporting breaches occurred over a span of 208 separate business days between 21 October 2024 and 15 August 2025 and involved foreign‑exchange and commodities OTC contracts.
ASIC characterised the direction‑field reporting failures as systemic, indicating shortcomings in Deutsche Bank’s internal reporting framework. The regulator noted that the bank did not take all reasonable steps to ensure accurate reporting of the required data fields.
Deutsche Bank has cooperated fully with ASIC’s investigation and is currently implementing remedial measures aimed at strengthening its internal controls and preventing further reporting errors.