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.
GC fines Spreadex for second time over “unacceptable” AML and social responsibility failings https://t.co/ViVE05Zzu3 https://t.co/D1oGO3K2HR
Online gambling firm Spreadex fined £2m for social responsibility failings https://t.co/GsOQu7n4Mg
Spreadex has fallen foul of the @GamRegGB after the regulator identified AML and social responsibility breaches - as a result, the operator has been handed a £2m fine https://t.co/goxL5MQ7Eg https://t.co/goxL5MQ7Eg