Penske File exposed: Macquarie Group's cheat sheet made public...

Penske File exposed:
Macquarie Group's cheat sheet made public
Date September 20, 2014 - 12:15AM Adele Ferguson and Ben Butler

The existence of the file is believed to have been one of the triggers for an investigation into Macquarie.
It is the cheat sheet at the centre of the Macquarie Private Wealth scandal that the millionaires' factory
and the corporate regulator, the Australian Securities and Investments Commission, refuses
to confirm or deny exists. (B added)

Fairfax Media has obtained a copy of the Penske File, named after the folder of documents
on which the Seinfeld character George Costanza pretends to work.
The Macquarie folder contained answers to exams its advisers are required to take annually
in order to keep their professional accreditation up to date.
Fairfax Media can reveal a version of the controversial Penske File has been barcoded
and scanned into ASIC's database.

The file includes more than 30 cheat sheets showing the answers to questions on topics
ranging from agribusiness schemes and margin loans to advising clients whose relationships
are breaking down. Some pages have handwritten corrections to assist advisers.

Read more: http://www.smh.com.au/business/bank...ade-public-20140919-10j8yu.html#ixzz3Do2bYtEc
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