Australian regulator accepts FX remedial plan from Macquarie
Macquarie is the fifth Australian bank to present remedial programmes to Asic for failures in its FX business
The Australian Securities and Investments Commission (Asic) has accepted a plan from Macquarie Bank to rectify concerns about its activities in the wholesale FX business – the fifth Australian bank to present such a plan to the regulator.
The plan sees the bank contributing A$2 million ($1.49 million) to The Smith Family, an Australian charity that supports programmes aimed at improving young people’s understanding of money management. Taken together, Australian banks have forked out A$11
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