Breaking: ASIC takes action against Macquarie for 'significant' failures

Aussie bank accused of 'disappointing' compliance failures

One of Australia's biggest banks has been slapped with licence conditions by the corporate watchdog over "multiple and significant" compliance failures.The Australian Securities and Investments Commission (ASIC) has taken action against Macquarie Bank over what it claims are failures associated with its futures dealing and derivatives trading division.ASIC claims Macquarie's failure to stop suspicious trading went undetected for many years – i…

Breaking: ASIC takes action against Macquarie for 'significant' failures

Investment bank Macquarie is hit with additional licence conditions as the corporate regulator slams "multiple and significant compliance failures".

Macquarie cops extra conditions for 'repeated' non-compliance

Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me The corporate watchdog has imposed additional conditions on Macquarie Bank’s financial services licence, citing multiple and significant compliance failures. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Lost your password? The post Macquarie cops extra con…

ASIC Imposes Additional Conditions on Macquarie Bank’s Australian Financial Services Licence

ASIC added that one of the compliance failures went undetected for over a decade. They relate to Macquarie’s futures dealing operations and over-the-counter (OTC) derivatives trade reporting.  ASIC’s action requires the bank to develop a remediation plan, appoint an independent expert to review the plan and assess the effectiveness of the remediation in preventing future compliance breaches. “Our intervention underscores our concern with the rec…

ASIC acts against Macquarie Bank for repeated compliance failures

Many of the OTC derivatives trade reporting breaches continued for a number of years without detection The post ASIC acts against Macquarie Bank for repeated compliance failures appeared first on Investment International.

ASIC cracks down on Macquarie Bank over ‘systemic’ compliance failures

Australia’s corporate regulator has taken aim at Macquarie over longstanding compliance failures in the bank’s futures and derivatives trading arm.