Arab Today, arab today korean unit of macquarie funds group censured for malpractice
Last Updated : GMT 08:44:49
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Korean unit of Macquarie Funds Group censured for malpractice

Arab Today, arab today

Arab Today, arab today Korean unit of Macquarie Funds Group censured for malpractice

Korea financial investment
Seoul - Yonhap

The South Korean unit of Australia-based asset manager Macquarie Funds Group faces a three-month business suspension and was fined 100 million won (US$910,000) for business malpractice linked to bond trading, the country's financial watchdog said Friday.
According to the Financial Supervisory Service, Macquarie Investment Management Korea has been involved in the business malpractice of "parking" bonds at brokerages for a certain period, not immediately recording bond purchases on the balance sheets of funds under management.

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