Macquarie Securities (Australia) Limited agreed to pay a fine of AU $505,000 (US $382,629) to resolve charges by the Australian Securities and Investment Commission that it had engaged in “reckless” conduct when it permitted a customer to continue trading for 39 days after raising concerns that the activity might be suspicious, and for failing to file a suspicious activity report. According to ASIC’s Markets Disciplinary Panel, in 2014, Macquarie took on a client with a business model that was a “departure” from its usual customer business and customized its automated order processing system to accommodate the new activity. Although Macquarie’s trade surveillance monitoring software raised alerts regarding a substantial number of orders entered, it failed to take appropriate action. ASIC noted that Macquarie was aware of suspicious trading and failed to implement adequate measures to “minimize the risk of, and opportunity for breaches of the market integrity rules.”