Jarden slapped with $40k penalty over monitoring failures

Jarden CEO James Lee. (Image: Supplied)

Mon, 30 Aug 2021

Jarden has been publicly censured and ordered to pay $40,000 plus costs for failing to keep a watchful eye on the filters in place for its clients with direct market access.In June last year, one of Jarden’s customers with direct market access (DMA) made a series of trades using an algorithm that contributed to pushing down Mainfreight’s price 9.8% in the space of 40 minutes. The order was a mistake and would’ve been picked up had one of Jarden’s filters been activated. However, the company had turned it off a year earli...

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