Criminal cartel charges expected to be laid against ANZ, ACCC confirms

The Australian Competition and Consumer Commission says it expects charges to be laid against the ANZ Bank, its Group Treasurer and several other companies and individuals over an alleged criminal cartel arrangement.

The ACCC says the charges are expected to be laid by the Commonwealth Director of Public Prosecutions in relation to trading in ANZ shares, following an ANZ institutional share placement in August 2015.

ACCC chairman Rod Sims said it was alleged ANZ and the individuals were knowingly concerned in some or all of the conduct.

More to come.

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