Response to Fairfax article regarding Macquarie Private Wealth, published 14 November 2017
Sydney, 14 Nov 2017
Today’s Fairfax piece, Macquarie brokers to face Senate inquiry over misconduct claims, will be the fifth article relating to a class action being pursued by lawyers Macpherson Kelley and in which litigation has yet to commence. As we have stated previously, allegations made to date by the lawyers, which appear to be an attempt to solicit clients, lack any credible evidence.
Throughout Macquarie’s involvement with Cleveland Mining, and Helix Resources - another small mining-related company mentioned by Fairfax today - Macquarie has acted in accordance with all relevant regulatory requirements. As we have stated previously, as part of a full investigation into the Cleveland Mining matter, Macquarie wrote in June to clients who owned shares in the company, informing them that we were conducting a review. That investigation is now complete and we have already informed clients that we have found no evidence of inappropriate conduct of the type Fairfax is intimating.