'The biggest scandal' in the ANZ Group’s 182-year history?

Jul 24, 2024 · By Mark Humphery-Jenner* ANZ is being investigated by the Australian Securities and Investments Commission (ASIC) amid serious allegations the bank manipulated markets …

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ANZ Bond Scandal: APRA Increases Capital Charge To $750 Million

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Aug 23, 2024 · The regulator has forced an extra $250 million capital charge on the bank as the bond trading and workplace culture scandals take a toll on the company.

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ASIC Raids Four Properties In ANZ Bond Manipulation Probe

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Oct 9, 2024 · The move was part of efforts to gather evidence as the regulator investigates the bank over allegations it improperly profited from a $14 billion bond sale.

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ANZ Overstates Government Bond Values To Win Deals, AFR Says

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Jul 11, 2024 · The AOFM’s annual report showed ANZ received A$6.2 million in the 2022-23 financial year for the syndicated issuance of Australian government bonds, the top placed …

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FAQs about 'The biggest scandal' in the ANZ Group’s 182-year history? Coupon?

Why is ANZ being investigated by ASIC?

ANZ is being investigated by the Australian Securities and Investments Commission (ASIC) amid serious allegations the bank manipulated markets when it facilitated a A$14 billion sale of government bonds in April last year. Enjoyed this article? Don't miss out on the knowledge and insights to be gained from our daily news and features. ...

Did ANZ break the law?

Photo by worf on Unsplash. By Mark Humphery-Jenner* ANZ is being investigated by the Australian Securities and Investments Commission (ASIC) amid serious allegations the bank manipulated markets when it facilitated a A$14 billion sale of Australian government bonds in April last year. ASIC has now publicly stated it suspects ANZ broke the law. ...

Did ANZ manipulate government bond sales?

ANZ is embroiled in allegations it manipulated government bond sales – what exactly does that mean? ANZ is being investigated by the Australian Securities and Investments Commission (ASIC) amid serious allegations the bank manipulated markets when it facilitated a A$14 billion sale of government bonds in April last year. ...

What happened to ANZ Group Holdings?

(Adds company size and scope in third, eighth paragraphs.) ANZ Group Holdings Ltd. fired and suspended traders after allegations of misconduct, with pressure building on Chief Executive Officer Shayne Elliott to clean up a markets division beset by multiple probes into its dealing practices and culture. ...

What happened to ANZ?

Since the April 2023 issuance, ANZ has been excluded from two major government transactions, including an $8 billion debt sale six months later and a marquee $7 billion green bond last month. It was a notable absence as Commonwealth Bank, National Australia Bank and Westpac were in on the deal, the government’s first green bond. ...

Did ANZ misrepresent how much trading it did?

It is alleged ANZ misrepresented how much trading it did. According to the Australian Financial Review, ANZ told the government it had “facilitated” $137.6 billion in bond trades to the year ended June 2023, when it had really only facilitated $83.2 billion – a discrepancy of $54.4 billion. ...