The Age --- Page: B1-B2
The Australian Securities & Investments Commission's decision to ban a stock broker for allegedly spreading rumours that damaged the share price of Macquarie Group will be appealed by him in the Administrative Appeals Tribunal. The research in question was sent out by the offender just as the investment bank was under serious pressure from hedge funds engaging in short selling of financial sector stocks.
The Australian Financial Review --- Page: 1/49
Sydney broker, Richard Macphillamy, has been suspended from providing financial services advice for 18 months after the Australian Securities & Investments Commission (ASIC) accused him of spreading false rumours. ASIC said Macphillamy made false claims about Macquarie Group in a widely distributed email.
Its all fun until someone gets hurt..