ASIC lays charges against former FX trader

 

Former Deutsche Bank foreign exchange (FX) options and futures trader, Andrew Donaldson, has been charged with 85 offences in respect of dishonestly using his position as an employee with the intention of gaining an advantage for himself.

Donaldson, who, in 2016, was banned from providing financial services, is accused of recording false transactions and false fixed cashflows in Deutsche Bank’s internal systems between July 2013 and June 2014.

Related News:

The accusations were brought by the Australian Securities and Investments Commission (ASIC) following an investigation by the regulator.

The false entries increased the trader’s reported trading profits and temporarily offset trading losses he had suffered.

Donaldson’s charges were listed before Sydney’s Downing Centre Local Court on 6 February, but he did not enter a plea.

The matter has been adjourned to 10 April.  




Related Content

We’ve never called for a ban on commissions says ASIC

The Australian Securities and Investments Commission (ASIC) has stepped around giving a direct answer to Parliamentary questioning about the banning o...more

ASIC: 2017 AGM season less tumultuous

The 2017 annual general meeting (AGM) season was significantly less tumultuous than the 2016 season, with a stronger shareholder engagement, according...more

Law firm calls for control test to be restricted

Despite the Australian Securities and Investments Commission (ASIC) Enforcement Review Taskforce considering whether the regulator should broaden the ...more

Author

Comments

Comments

If only the Adviser had been registered the TASA and done 3 more degrees. This would never have happened (Not). When will people realise that Education and additional registrations do not solve the issues?

Add new comment