‘Multiple failures’: ASIC sues Macquarie Bank after $2.9m embezzlement - Sydney Morning Herald

The corporate watchdog is taking legal action against Macquarie Bank for failing to properly monitor and control transactions by financial advisers in their clients’ accounts.

ASICs court filing notes that this issue arose in relation to 13 clients of an independent financial adviser between 2016 and 2019, who has since pleaded guilty to fraud. Following the independent ad… [+1308 chars]

full article...