meta_id 3327288

On July 15, 2026, the Australian Securities and Investments Commission (ASIC) announced that the Markets Disciplinary Panel (MDP) fined WealthHub Securities Limited (WealthHub), an online broker owned by National Australia Bank (NAB), A$1.055 million for failing to accurately report regulatory data more than 9.5 million times over a 10-year period. From July 28, 2014 to October 31, 2024, WealthHub failed to provide complete and accurate regulatory data and lacked the necessary organisational and technical resources to comply with its reporting obligations under the ASIC Market Integrity Rules. The MDP identified that WealthHub repeatedly failed to provide or provided incorrect Intermediary ID information, the Australian Financial Services (AFS) licence number of the financial services entity responsible for placing orders and trades, in orders and trade reports submitted to market operators, including the Australian Securities Exchange (ASX). The Intermediary ID is critical for ASIC to accurately identify orders and trading patterns, detect misconduct such as insider trading and market manipulation, and calculate industry funding levies. The MDP found that WealthHub lacked the capacity, capability, and appropriate resources to identify and remediate breaches in a timely manner. The panel noted that WealthHub missed multiple opportunities to address the root cause of failures, failed to take adequate corrective action, and did not lodge a reportable situation report to ASIC until January 2023. The MDP emphasised that market participants bear responsibility for maintaining and regularly reviewing technology systems and ensuring they employ people with appropriate expertise to identify and address reporting issues. WealthHub, a wholly owned subsidiary of NAB, operates as a market participant and trading participant of the ASX Market and Cboe Market, providing execution, clearing and settlement services through nabtrade and its private wealth business JBWere Ltd. WealthHub has complied with the infringement notice and paid the fine. Payment does not constitute an admission of guilt or liability.