Oddo & Cie., a Paris brokerage, was fined 100,000 euros ($123,000) today by France’s financial markets regulator for failing to properly state some operations between 2009 and 2011.
Oddo didn’t profit or otherwise benefit from its failures to file the reports and fixed the situation when it came to light, the Autorite des Marches Financiers said in a statement on its website. The declarations help the regulator monitor for market abuse, making it important for brokers to report them.
The AMF recognized that the mistake was “made in good faith, which excluded any willful deceit,” according to an e- mailed statement from Oddo lawyer Martin Tomasi. The regulator “didn’t impose any disciplinary sanction, just a simple fine.”
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