Press Release

Response to claims broadcast by the ABC's 7.30 program on 12 September 2012

Sydney, 13 September 2012

Macquarie rejects the deliberately misleading and inaccurate assertions contained in the ABC's 7.30 program of 12 September 2012 and will be lodging a formal complaint to the ABC about breaches of its Editorial Policies - Principles and Standards.

The facts are:

  1. The 7.30 reporter did not put to Macquarie allegations made in relation to Mr and Mrs Lecouilliard and by Bruce Ford.  Consequently, Macquarie was not afforded a right of response to allegations that comprised the majority of the report.  This is contrary to the ABC's Code of Practice and Editorial Policies.
  2. Macquarie offered to respond in detail to Mr Wren's claims to 7.30 if Mr Wren waived rights which would enable the Group to do so.  Mr Wren declined. This offer and Mr Wren's response was withheld from viewers. As a result, Macquarie was unable to fully respond to Mr Wren's claims.
  3. Macquarie received a complaint from Mr Wren in May 2010 and through Macquarie's Integrity Office investigated this complaint independently of the business, and in detail. This investigation found no evidence that supported Mr Wren's claims and in fact, found evidence which contradicted his complaint. Macquarie shared the findings of its investigation with Mr Wren in June 2010.
  4. In addition, Mr Wren made three complaints against Macquarie to the Financial Ombudsman Service, and has failed to disclose the determinations that were made by FOS. Macquarie is not permitted to publicly disclose the determinations. Macquarie also notes the reporter’s comment that Mr Wren is in arrears on a Macquarie loan.

Macquarie notes that the ABC’s Editorial Policies - Principles and Standards state in part:  
"The ABC has a statutory duty to ensure that the gathering and presentation of news and information is accurate according to the recognised standards of objective journalism" and that the ABC "make reasonable efforts to ensure that material facts are accurate and presented in context and [does] not present factual content in a way that will materially mislead the audience."


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