Briefs: Fee for no service compensation hits $1.8 bn, Macquarie completes hybrid bookbuild 06 August 2021 6:10AM Banking Day staff ASIC, Finance regulation, Hybrids, Macquarie ASIC reported yesterday that the big four banks plus AMP and Macquarie Group have paid a total of $1.86 billion of compensation to 10,894 customers for fees for no service up to June 30. The institutions undertook reviews after two ASIC reports on their failure to deliver ongoing advice services, the first of which was in 2016. Westpac tops the count with a payout of $578 million. Macquarie Bank has completed the bookbuild for its latest hybrid offer, Macquarie Bank Capital Notes 3, which was launched earlier this week. It has allocated A$500 million in firm commitments to syndicate brokers and institutional investors. The securityholder offer will open on August 11. The margin was set at a margin of 290 basis points.