Australia fines Macquarie Bank $6.4 mln for not preventing unlawful third-party transactions [Reuters]
MACQUARIE GROUP LTD S/ADR (MQBKY)
NASDAQ:AMEX Investor Relations:
macquarie.com/us/about/investors
Company Research
Source: Reuters
April 19 (Reuters) - The Federal Court of Australia has fined Macquarie Bank A$10 million ($6.4 million) for its lack of controls to detect and prevent unauthorised fee transactions carried out by third parties on customer accounts, the securities regulator said on Friday. The bank allowed customers to give third parties, such as financial advisers and stockbrokers, different levels of transaction authority, including to withdraw fees, the Australian Securities and Investments Commission (ASIC) said in a statement New Tab , opens new tab Macquarie Group (MQG.AX) New Tab , opens new tab , which controls the bank, said New Tab , opens new tab it would fully reimburse the 13 affected clients, following its failure to compensate them for their losses. The bank has agreed to pay the fine, the ASIC added. Macquarie Bank provided a bulk transacting tool to third parties to make multiple withdrawals across several customer accounts simultaneously. However, between May 2016 and
Show less
Read more
Impact Snapshot
Event Time:
MQBKY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MQBKY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MQBKY alerts
High impacting MACQUARIE GROUP LTD S/ADR news events
Weekly update
A roundup of the hottest topics
MQBKY
News
- Macquarie CEO Says Global Footprint to Buoy Commodities Business [Financial Post (Toronto, Ontario, Canada)]Financial Post
- World's Most Important Oil Price Transformed by Adding US Crude [Financial Post (Toronto, Ontario, Canada)]Financial Post
- World's Most Important Oil Price Transformed by Adding US Crude [BNN Bloomberg (Canada)]BNN Bloomberg
- Macquarie Mortgage Boss Paid More Than CBA CEO Amid Loans Push [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Exploring IGO And Two More Top Dividend Stocks In Australia [Yahoo! Finance]Yahoo! Finance