ASIC View Episode 15: Macquarie, van Eyk and responsible entities

In August this year, The Supreme Court of New South Wales found that Macquarie Investment Management Ltd contravened the Corporations Act by failing to comply with its duties as a responsible entity of the van Eyk Blueprint International Shares Fund. The Court made declarations of contravention and ordered that MIML pay a civil pecuniary penalty of $400,000, as well as $200,000 for ASIC's legal costs. ASIC Commissioner Greg Tanzer joins the podcast to talk about the case and why ASIC considers it such an important outcome. You can read ASIC's media release on the outcome here Please note the judge's comments that Greg quotes in the podcast are slightly abridged. The full comments are available via the link at the bottom of the media release.