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As the ACCC's criminal cartel case against ANZ, Citigroup and Deutsche Bank gets underway, the regulator will face off against a formidable team of lawyers with extensive experience in defending competition matters.
High-ranking bank officials, including the former CEOs of Citigroup and Deutsche Bank in Australia, are among the executives charged over a cartel involving a $2.5 billion ANZ institutional share placement.
ANZ, Deustche Bank and Citigroup will be hit with criminal charges over an alleged cartel involving the institutional equity placement of ANZ shares that raised $2.5 billion in capital.
Australia and New Zealand Banking Group Limited has agreed to pay $3 million after an ASIC investigation found it failed to provide annual reviews to wealth management customers that paid for the service.
A Federal Court judge in Melbourne has slapped Australia and New Zealand Banking Group with a $5 million fine for failing to properly vet customers' financial backgrounds when providing car loans.
Australia and New Zealand Banking Group Ltd. has reached an 11th-hour deal with the securities regulator over allegations of interest rate rigging.