Sydney, 03 June 2019
Macquarie Securities (Macquarie) notes today’s Australian Securities and Investments Commission (ASIC) announcement that Macquarie has been fined $300,000 by the Markets Disciplinary Panel for contraventions of the market integrity rules for the provision of Regulatory Data.
In 2018 Macquarie identified and self-reported to ASIC a recurring designation error in relation to three regulatory reporting data fields with respect to certain client electronic trading accounts. There was no negative impact to clients. Macquarie wrote to all clients at the time advising them of the errors.
Macquarie accepts the penalty and has since undertaken a comprehensive review of all regulatory data in its systems, corrected the data errors and implemented changes to ensure that similar errors do not occur again.