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ASIC Sues Macquarie Securities Over Alleged Misreporting of Short Sales

Australia's corporate regulator seeks up to A$783 million in penalties and an independent review of Macquarie's reporting systems after a 14-year compliance failure.

Macquarie Group logo is seen outside their headquarters in Sydney, Australia, May 9, 2025. REUTERS/Hollie Adams/File Photo
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The Australian Security and Investments Commission sign.

Overview

  • The Australian Securities and Investments Commission (ASIC) has filed a lawsuit in the New South Wales Supreme Court against Macquarie Securities, alleging the misreporting of at least 73 million short sales between 2009 and 2024.
  • ASIC claims the misreporting, which could represent up to 1.5 billion short sales, stemmed from persistent system failures that went undetected for over a decade.
  • This marks ASIC’s fourth enforcement action against Macquarie Group in just over a year, reflecting heightened regulatory scrutiny of the financial institution's compliance practices.
  • The regulator is seeking penalties of up to A$783 million and an independent review of Macquarie Securities' regulatory reporting systems to ensure future compliance.
  • Macquarie has stated it self-reported the issue to ASIC in late 2022, has since addressed the deficiencies, and is now reviewing the regulator’s claims.