Macquarie hit with £13m UK fine as metals trader hides losses

26th November, 2024

Gregory Rosenvinge
FCA

The UK Financial Conduct Authority (FCA) has fined Macquarie Bank Limited (MBL) £13 million for serious control failures in its end-of-day (EOD) futures reconciliation process that allowed one of its traders to hide over 400 fictitious trades and related losses for almost two years.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP

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