Macquarie Bank is in deep ASIC trouble

Macquarie Bank continued the employment of a financial adviser who forged a client's signature and retained others who had cheated in exams according to information received by the Australian Financial Review. Macquarie rejects these claims.

The Australian Securities and Investments Commission said Macquarie had work to do on compliance and client remediation.

ASIC said Macquarie has made substantial changes to management, business structure and other systems.

Source: Australian Financial Review