Australia's regulator imposes $2.5 million fine on SocGen subsidiary for questionable futures orders

Regulatory Fine: Societe Generale Securities Australia has been fined A$3.88 million by the Australian Securities and Investments Commission (ASIC) for failing to prevent 33 suspicious orders in the electricity and wheat futures markets, which were intended to manipulate market prices.

Company Response: The company did not contest the allegations and has paid the penalty, stating that it has taken appropriate remedial actions to address the issues raised by ASIC.