Australian regulators are suing Macquarie Securities, accusing it of repeatedly engaging in systemic misleading conduct.

The Australian Securities and Investments Commission announced on May 14 that ASIC has sued Macquarie Securities Australia Ltd, accusing the company of falsely reporting millions of short sale trades to market operators over a period of more than 14 years, engaging in misleading conduct. ASIC stated that the misleading conduct was caused by multiple system-related issues, many of which went undetected for over a decade.