Multinational investment bank Deutsche Bank Aktiengesellschaft has paid a penalty of $2 million for misreporting more than 260,000 over-the-counter (OTC) derivative transactions, undermining the accuracy of data used to monitor Australia’s financial markets.

The Australian Securities and Investments Commission (ASIC) issued an infringement notice to Deutsche Bank after identifying breaches of the ASIC Derivative Transaction Rules (Reporting) 2024 between 21 October 2024 and 15 August 2025.

Specifically, ASIC has reasonable grounds to believe that Deutsche Bank failed to take all reasonable steps to accurately report the ‘direction’ fields data for 20,483 outstanding transactions and 244,091 terminated or matured transactions across 208 separate business days. These transactions related to foreign exchange and commodities OTC transactions.

The direction fields are important mandatory data elements under the ASIC Rules, indicating whether the reporting entity is acting as the effective buyer or seller of a transaction at a specified price.

ASIC concluded the direction data reporting failures were systemic and reflected deficiencies in Deutsche Bank’s internal reporting framework.

The ASIC Rules require reporting entities to report derivative transaction and position information to derivative trade repositories.

Deutsche Bank has cooperated with ASIC’s investigation, paid the penalty and is implementing measures to prevent further reporting errors. Compliance with the infringement notice is not an admission of guilt or liability, and by doing so, Deutsche Bank has not taken to have contravened the ASIC Rules.