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Regulator Probes ANZ Bank's Government Bond Transactions

May 13, 2024 1 min read

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The Australian Securities and Investments Commission (ASIC) is currently investigating ANZ Group Holdings Ltd. over potential misconduct during a 10-year Treasury bond issuance managed by the Australian Office of Financial Management (AOFM) in 2023. The probe focuses on ANZ's role as a risk manager in the transaction, which involved a total of $14 billion in government bonds. Concerns have been raised about the possibility of ANZ's traders manipulating the sale of this government debt.

ASIC's investigation was prompted by a complaint that pointed to issues in the way ANZ handled the bond sale. This has led to broader scrutiny of conduct in the wholesale fixed-income markets, with ASIC examining major banks' management of key conduct risks. ANZ has acknowledged its involvement in the bond issuance and has stated that it is fully cooperating with ASIC's investigation. The bank has also affirmed its commitment to compliance with regulatory obligations.

#finance #politics #australia

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