'Reckless': ASIC chair on historic Macquarie Bank fine

ASIC Chair Joe Longo claimed Macquarie Bank’s failure to properly respond to ASIC’s concerns showed a “poor attitude” and “reckless disregard” for compliance standards.

“They could’ve done more,” Mr Longo told Sky News Business Reporter Ed Boyd.

Mr Longo added Macquarie had been criticised by the market disciplinary panel itself, noting the bank’s culture as “poor”.

“It’s a bit of a wakeup call it seems to me for the Macquarie board and senior executive.”

[RobertChaplin-mb]

This is crazy, Macquarie Bank is one of Australia’s best companies, it leaves the government in in its tracks by comparing abilities ( that is not hard) and it is a top asset to the community generally by way of employment, taxation payments, and its overall expertise. Put simply I would trust Macquarie Bank much more than our governments. Just look at the governments’ track records over recent years which speak clearly for themselves. The old saying is you are remembered by your mistakes not by your successes. This is a great example.

[np]

Before it was Putin, now Macquarie. Let's find out how many involved?