ASIC - Australian Securities & Investments Commission

Macquarie Securities Ordered to Pay AUS $35 Million (about US$ 24,3 Million ) for Misreporting. The New South Wales Supreme Court has ordered Macquarie Securities (Australia) Limited to pay a $35 million penalty for misreporting tens of millions of short sales from December 2009 to February 2024. The court found significant failures in MSAL’s systems, leading to inaccurate reporting of between 298 million and 1.5 billion short sales. These systems failures persisted undetected for over a decade, affecting market trust. MSAL must now engage an independent expert to assess its reporting systems and pay ASIC's costs. Justice Nixon emphasized the importance of accurate data in maintaining market integrity.