ASIC - Australian Securities & Investments Commission

Macquarie Faces A$35 Million ( (about US $23.4 million) Penalty for Misreporting Short Sales. Macquarie Securities (Australia) Limited (MSAL) has admitted to misleading conduct related to the misreporting of at least 73 million short sales between December 2009 and February 2024, due to systemic failures in its systems. The Australian Securities and Investments Commission (ASIC) and MSAL are seeking a $35 million penalty, pending court approval. MSAL also admitted to failing in supervisory policies, organizational resources, and risk management systems, affecting over 633,000 orders between November 2022 and March 2023. ASIC's action marks its first short-sale reporting case, highlighting the importance of accurate market data for financial transparency and integrity.