May 14, 03:05 PM

ASIC Sues Macquarie Over 1.5 Billion Short Sales Misreporting, Potential $500 Million Fine; Goldman Sachs Fined $1.45 Million; Spreadex Fined £2 Million

Australia's corporate regulator, the Australian Securities and Investments Commission (ASIC), has initiated its fourth legal action against Macquarie Group within just over a year. ASIC alleges that Macquarie's broking arm misreported millions of short sales to the market operator over a period exceeding 14 years, with inaccurate reporting involving up to 1.5 billion short sales. The latest case could result in fines of up to AUD 500 million for the bank. Separately, Goldman Sachs Group Inc. has agreed to pay a $1.45 million civil fine to settle claims by U.S. regulators that it failed to accurately report data for billions of stock market trades. The Financial Industry Regulatory Authority (FINRA) identified coding errors at Goldman Sachs that led to inaccurate reporting of 36.6 billion trades to the Consolidated Audit Trail (CAT) Central Repository. Additionally, UK-based online gambling firm Spreadex has been fined £2 million by the UK Gambling Commission for breaches related to anti-money laundering (AML) and social responsibility failings, marking the second time the operator has been penalized for such issues.

#Australia #ASIC #Macquarie Group #Macquarie #Financial Industry Regulatory Authority #FINRA #Goldman Sachs #Consolidated Audit Trail #Spreadex #UK Gambling Commission

Written with ChatGPT (GPT-4).

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ASIC Sues Macquarie Over 1.5 Billion Short Sales Misreporting, Potential $500 Million Fine; Goldman Sachs Fined $1.45 Million; Spreadex Fined £2 Million

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