A senior ACCC officer tried to dissuade ASIC from investigating alleged insider trading by JPMorgan because of fears it would âupsetâ the competition regulatorâs criminal cartel case over a $2.5 billion ANZ share placement, a court has heard.
The Australia and New Zealand Banking Group has been hit with a class action for having âunfairâ terms in its credit card contracts that allegedly gave the bank the right to charge account holders retrospective interest.
A senior ACCC officer was probed Tuesday on whether the competition regulator updated its guidelines for taking witness statements in July in response to criticism of investigators’ methods in the cartel probe over ANZ’s $2.5 billion share placement.
The Australian Securities and Investments Commission has launched court proceedings against ANZ alleging the banking giant’s home loan ‘introducer’ referral program breached credit laws.
A former JPMorgan managing director has said the three investment banks at the centre of an alleged cartel made individual decisions to trade âgentlyâ in ANZ shares but were conscious of their fellow underwriters’ risks following a botched share placement in 2015.
JPMorgan bigwigs who are key witnesses for the prosecution in its cartel case over ANZâs botched share placement in 2015 will be questioned by Citibank and Deutsche ahead of trial.
The ACCC’s practice of successively refining witness statements without saving draft versions was “quite unfair”, says a judge overseeing the competition regulator’s criminal cartel case over a botched ANZ share placement.
A judge has declined to quash the indictment in a high-profile criminal case over a $2.5 billion ANZ share placement but sent prosecutors back to the drawing board to remedy its defects, calling the state of affairs “a complete shemozzle”.
JPMorgan’s general counsel for Australia and New Zealand was allowed to sit in on witness interviews during an ACCC cartel investigation into ANZ’s $2.5 billion share placement despite allegedly being involved in the cartel conduct, a judge has heard.
In a major blow to the competition regulatorâs high-profile price-fixing case over ANZâs $2.5 billion capital raising, prosecutors have dropped all charges against the bank and its group treasurer, Rick Moscati.