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ASIC may sue Macquarie, others

The Australian Securities and Investments Commission (ASIC) is investigating the collapse of Storm Financial, a failed investment company that collapsed in 2008. Three major Australian banks, Macquarie, Commonwealth Bank, and Bank of Queensland were involved in an unregistered investment scheme that had been led by Storm Financials. Most of Storm’s 13000 clients were retail investors and the company has been…

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