Macquarie Group has vowed to act in response to the corporate regulator’s blistering attack on its risk culture, which resulted in additional oversight being imposed on its banking division.
The Australian Securities and Investments Commission’s crackdown earlier this week was the latest in a string of negative headlines around the investment group’s compliance standards, casting a shadow over full-year results on Friday that showed a near 6 per cent rise in full-year profits to $3.7 billion.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
