Another dilution for PIF?

Those damn Compliance Complaints again!

Class-action lawyers looming over Macquarie
Date August 4, 2014 - 9:32AM Michael West Business columnist

Macquarie Group is motoring along in top gear again but it can now see John Walker, chief executive of litigation funder IMF Bentham, looming in its rear vision mirror.
The class lawsuit fraternity has been tailing Macquarie, and indeed all the banks for years, but Walker has now drawn fully into view: “IMF is aware of the issues raised in the enforceable undertaking in respect of Macquarie Private Wealth and is interested in talking to more people who were clients of MPW and who may have been subject to breaches of standards for financial services,” he told Fairfax last week he is talking to victims.
The challenge for Walker is not so much getting victim numbers. These are legion, as evidenced again in the weekend story by Adele Ferguson and Ben Butler over the widespread compliance breaches at Macquarie Private Wealth (MPW).

Read more: http://www.smh.com.au/business/clas...r-macquarie-20140803-zzxmp.html#ixzz39PZlSh6U

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