Macquarie has acknowledged the initiation of civil proceedings by the Australian Securities and Investments Commission (ASIC) against Macquarie Securities (Australia) Limited (MSAL). The case centers on issues related to inaccurate reporting of short sale transactions.
The discrepancies in MSAL's daily reporting of short-sold shares were initially identified by MSAL itself and reported to ASIC in late 2022. Following this, MSAL found additional related issues and also reported these to ASIC.
Macquarie stated that the reporting problems mentioned in the proceedings have been addressed, with new controls put in place. Currently, MSAL is reviewing ASIC's claim, but as the issue is under judicial consideration, Macquarie refrains from making further comments.
"Macquarie takes its compliance obligations very seriously and continues to invest in programs to further improve systems and controls across the Group," a spokesperson for Macquarie said.
The information provided serves as a general description of the Macquarie Group. It does not constitute financial advice or an offer for any financial product or service. Potential investors are advised to consider their objectives and financial situation before acting on any information and should seek appropriate advice.
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