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0.General, 1.Market Observations

30 Jan 2013 (The Age) – Regulator slams Macquarie unit

[COMMENT: Surely this can’t be true? A large and respected institution? ]

(30 Jan 2013, The Age, BusinessDay, p1, Lucy Battersby)

‘AUSTRALIA’S biggest stockbroking firm, Macquarie Equities, has been forced by the corporate regulator to have an independent investigator oversee its operations after the broker was found to have ”serious compliance deficiencies” over four years.’

‘Macquarie Private Wealth, the retail division of investment bank Macquarie Group, has been lambasted by the Australian Securities and Investments Commission for ”recurring deficiencies” which the corporate regulator claims may have led to Macquarie giving clients inappropriate advice.’



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