National Australia Bank's (ASX:NAB) online broker unit WealthHub Securities has been fined about AU$1.1 million by the Markets Disciplinary Panel relating to failures to accurately report regulatory data more than 9.5 million times over 10 years, according to a Wednesday disclosure by the Australian Securities and Investments Commission (ASIC).

The panel found that from July 28, 2014, to Oct. 31, 2024, WealthHub failed to provide complete and accurate regulatory data and did not have and maintain the organizational and technical resources needed to comply with its reporting obligations, following an ASIC probe, the statement added.

WealthHub has complied with the infringement notice and has paid the fine, it added.

National Australia Bank's shares rose 1% in recent Wednesday trade.