Following our report yesterday, Macquarie's Chairman, Kevin McCann, has stated that c. AUD 11mn ($$11m) had been paid in compensation to clients to date. This follows an investigation by ASIC, which led to the bank having to refund more than 2,000 users of its Macquarie Wrap platform after around 2,300 clients were affected by system errors.
Following our report yesterday, Macquarie's Chairman, Kevin McCann, has stated that c. AUD 11mn ($8mn) had been paid in compensation to clients to date. This follows an investigation by ASIC, which led to the bank having to refund more than 2,000 users of its Macquarie Wrap platform after around 2,300 clients were affected by system errors.