Macquarie Group Ltd $MQG.AX, one of Australia’s most influential financial institutions, is now at the center of a high-profile legal dispute that could have far-reaching implications for market transparency and regulatory enforcement. The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the bank, alleging that it misrepresented short-selling data over a 15-year period, distorting the market to the tune of $1.5 billion. This legal action marks a significant escalation in ASIC’s ongoing scrutiny of Macquarie, reflecting a growing regulatory intolerance for financial misreporting in the post-global financial crisis era.