ANZ Bank trading probe among most complex ever, ASIC chief says
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ANZ is under scrutiny for its role in the execution of a 10-year Treasury bond sale in 2023.
PHOTO: REUTERS
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SYDNEY – Australia’s corporate watchdog is on track to conclude its investigation into bond trading activities at ANZ Group Holdings by the middle of 2025, a probe the watchdog’s chief said was among the toughest in its history.
“It’s probably one of the most complex markets investigations we have ever undertaken,” Australian Securities and Investments Commission (ASIC) chairman Joe Longo said on Feb 26. He expects the probe to end by the middle of 2025, reiterating a previously stated timeline.
ANZ is under scrutiny for its role in the execution of a 10-year Treasury bond sale in 2023. ANZ chairman Paul O’Sullivan told investors in December 2024 that the bank’s detailed investigation of the trading group’s work had not found anything to support allegations of market manipulation.
The probe centres around concerns traders may have manipulated the sale of government debt, and set off wider allegations about the bank’s culture.
“The whole question of prehedging is a complex matter, different views about what is acceptable, what is unacceptable,” Mr Longo said. “We do have concerns about what happened here. But that investigation is ongoing, and we’re hoping to land it in the next few months.” BLOOMBERG
