ASIC Takes Australia And New Zealand Banking Group To Court

This is source I found from another site, main source you can find in last paragraph

   By Robb M. Stewart 
 

MELBOURNE, Australia--Australia's antitrust regulator on Friday began proceedings in the Federal Court against Australia & New Zealand Banking Group Ltd. (>> Australia and New Zealand Banking Group) and Macquarie Group Ltd. (>> Macquarie Group Ltd), alleging attempts to manipulate the benchmark rate for the Malaysian ringgit.

The banks, which have admitted several employees in Singapore attempted to manipulate the benchmark rate for the ringgit, each confirmed settlements with the regulator in relation to the conduct of employees in 2011.

ANZ agreed to a 9 million Australian dollar (US$6.7 million) penalty, saying it agreed that three employees unsuccessfully attempted to influence the setting of benchmark rates used to settle contracts for the ringgit on 10 occasions. It said the three employees are no longer employed by the bank.

Macquarie, which agreed to pay a A$6 million penalty, said one employee was fired in 2012.

The identities of the individuals weren't disclosed in statements by the regulator and the banks.

Write to Robb M. Stewart at [email protected]

Stocks mentioned in the article : Australia and New Zealand Banking Group, Macquarie Group Ltd

This is source I found from another site, main source you can find in last paragraph

Source : http://www.4-traders.com/AUSTRALIA-AND-NEW-ZEALAND-6492549/news/Australia-and-New-Zealand-Banking-Regulator-Takes-Court-Action-Against-ANZ-Macquarie-For-Malaysia-23457479/

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