Macquarie to Pay $23 Million Fine for Short-Sale Failures

Macquarie Group Ltd.’s Australian securities business admitted to misleading conduct in misreporting millions of short sales over several years and agreed to pay a A$35 million ($23 million) fine.

The Australian Securities and Investments Commission and Macquarie Securities (Australia) Ltd. will ask the New South Wales Supreme Court to impose the penalty, according to a statement from the regulator Friday.