Wednesday, 28 November 2018

Coat tailing

ASIC joins ACCC in pursuing ANZ over $2.5b share placement ASIC has taken legal proceedings against ANZ Bank over the $2.5bn share placement which led to the ACCC's criminal cartel prosecutions. Interesting that ASIC has decided to purse a civil penalty case rather than a criminal prosecution. Also, the maximum fine for a breach of section 674 is only $1 million, so we are not talking big dollars here.

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