Regulatory Alerts2026-03-16
Supreme Court orders Macquarie Securities to pay $35 million penalty in short sale misreporting case
The New South Wales Supreme Court ordered Macquarie Securities (Australia) Limited to pay a $35 million penalty for systemic failures that caused the misreporting of tens of millions of short sales between 2009 and 2024. The Court found that MSAL engaged in misleading conduct and failed to maintain adequate risk management systems, supervisory policies, and necessary resources to ensure accurate regulatory data reporting. In addition to the pecuniary penalty, the judgment requires MSAL to engage an independent expert to assess its short sale and regulatory reporting systems and to pay ASIC’s costs.
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