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

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Home help: Australian banks have contributed A$11m to fund financial literacy projects in Australia

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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