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.

https://www.abc.net.au/news/2018-09-14/asic-joins-accc-in-pursing-anz-over-2.5bn-share-placement/10248192?section=business