Craigs Investment Partners censured, fined over glitches in Telecom, Rubicon trades

Fri, 20 Jul 2012

July 20 (BusinessDesk) - Craigs Investment Partners, the Tauranga-based brokerage half-owned by Deutsche Bank, has been censured and fined a total of $45,000 by the NZ Markets Disciplinary Tribunal over two breaches of NZX trading rules related to Telecom and Rubicon shares. The tribunal ruled that Craigs couldn’t escape blame even though it had argued the erroneous trades weren’t caught by filters installed by its trading system provider. According to the tribunal’s statement, a direct market access client used Craigs trading system on Aug....

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