"SEC Charges Advisory Firm Macquarie Investment Management Business Trust with Fraud; Firm To Pay Nearly $80 Million In Connection With Overvaluing Assets And Engaging In Unlawful Cross Trades" - SEC
Portfolio Pulse from Benzinga Newsdesk
The SEC has charged Macquarie Investment Management Business Trust with fraud for overvaluing assets and engaging in unlawful cross trades. The firm will pay nearly $80 million in penalties.
September 19, 2024 | 3:40 pm
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Macquarie Investment Management Business Trust has been charged by the SEC for fraud, involving asset overvaluation and unlawful cross trades, resulting in a $80 million penalty.
The SEC's charges against Macquarie for fraud and the significant penalty of $80 million are likely to negatively impact the company's stock price in the short term. Legal issues and financial penalties can lead to investor distrust and potential sell-offs.
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