Macquarie’s Broking Arm Sued Over Misleading Short Sale Data

ASIC estimates the number of misreported short sales could range from 298 million to as many as 1.5 billion trades.

A man stands in the viewing gallery at the Australian Stock Exchange in Sydney, Australia, on March 9, 2020. Rick Rycroft/AP Photo

The Australian Securities and Investments Commission (ASIC) has launched civil proceedings against the broking arm of Macquarie Bank in the New South Wales (NSW) Supreme Court.

The corporate watchdog alleges Macquarie Securities misreported millions of short sale transactions over a 14-year period, misleading the market.