Asic has commenced legal proceedings against bank for ‘unconscionable conduct and market manipulation’ over setting of bank bill swap reference rateAustralia’s corporate regulator has started legal action against ANZ Banking Group for alleged involvement in interest rate rigging among Australia’s sizable four banks.
The Australian Securities and Investment Commission (Asic) on Friday said it had commenced proceedings in the federal court in Melbourne against ANZ for “unconscionable conduct and market manipulation” in relation to the setting of the bank bill swap reference rate between March 2010 and May 2012.
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Source: theguardian.com