Macquarie Private Wealth has sent letters to dead people as part of its mailout to 160,000 current and former clients who may have received shoddy financial advice.
BusinessDay has also learnt that although the dead are receiving correspondence as part of the remediation effort, some living clients who are in dispute with Macquarie have yet to receive the letter that is required to be mailed out as part of a deal with the corporate regulator.
A BusinessDay investigation last month exposed allegations of serious problems at Macquarie Private Wealth (MPW), including an allegation that some advisers circulated a cheat sheet dubbed the "Penske file".
It followed a Senate inquiry that recommended the Australian Securities and Investments Commission (ASIC) put MPW under intensive surveillance.
Read more: http://www.smh.com.au/business/bank...ead-people-20140912-10fz6f.html#ixzz3DAUXQZWF
BusinessDay has also learnt that although the dead are receiving correspondence as part of the remediation effort, some living clients who are in dispute with Macquarie have yet to receive the letter that is required to be mailed out as part of a deal with the corporate regulator.
A BusinessDay investigation last month exposed allegations of serious problems at Macquarie Private Wealth (MPW), including an allegation that some advisers circulated a cheat sheet dubbed the "Penske file".
It followed a Senate inquiry that recommended the Australian Securities and Investments Commission (ASIC) put MPW under intensive surveillance.
Read more: http://www.smh.com.au/business/bank...ead-people-20140912-10fz6f.html#ixzz3DAUXQZWF
