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Hannah Wootton

Macquarie’s directors are making the same error, over and over again

The latest board member to fall foul of the ASX’s listing rules is chairman Glenn Stevens himself.

Macquarie Group may be the eighth largest listed company in the country and invest more than $314 billion in public markets, but even its top doughnuts get unstuck by the ASX’s listing rules.

This time, it was the chairman himself, former Reserve Bank of Australia governor Glenn Stevens. He had added to his stake in Macquarie Group and Macquarie Bank shares but failed to inform the ASX “within the requisite time frame”, according to a letter from company secretary Simone Kovacic.

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