Its Over, page-21786

ASIC investigates ANZ over Treasury trades
Aaron PatrickSenior correspondent
May 13, 2024 – 5.00am


ANZ is being investigated by the corporate regulator over concerns its traders manipulated the sale of government debt last year, the second time in a decade the bank’s fixed-income team has been accused of improperly profiteering.

Two sources with knowledge of the investigation said the Australian Securities and Investments Commission had begun its work after receiving a complaint from the Australian Office of Financial Management, which manages government debt.

The agency became concerned last year about the way in which some of its debt had been sold, sources who spoke on condition of anonymity said, and believed that bank staff involved in organising the sale of bonds may be acting inappropriately.
AOFM officials raised concerns with the bank but, unhappy with the response, they sought intervention from the regulator, which began a formal investigation.