German banking giant Deutsche Bank AG is paying A$2 million to resolve Australian regulators’ allegations of trade reporting failures in the over-the-counter (OTC) derivatives market.
The Australian Securities and Investments Commission (ASIC) alleged that, between October 2024 and August 2025, Deutsche Bank misreported more than 260,000 OTC derivative trades — by not ensuring that it accurately recorded whether trades in foreign exchange and commodities were buys or sells.
The ASIC said that the reporting failures were systemic and “reflected deficiencies in Deutsche Bank’s internal reporting framework” — which, in turn, undermined the accuracy of data that regulators had to oversee financial markets.
“Accurate reporting is necessary to enhance the capacity of regulators to oversee and monitor systemic risk and help detect and prevent potential market abuse,” the regulator said in a release.
The bank cooperated with the ASIC’s investigation, paid the penalty and is reforming its processes to prevent further reporting errors, the regulator noted.
At the same time, the ASIC said that the bank’s compliance with the infringement notice is not an admission of liability, and it hasn’t been found to have breached the regulator’s rules.