The Australian Competition & Consumer Commission (ACCC) has confirmed that criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ, ANZ Group Treasurer Rick Moscati, Citigroup Global Markets Australia, Deutsche Bank AG and a number of other individuals.
“The charges will involve alleged cartel arrangements relating to trading in ANZ shares following an ANZ institutional share placement in August 2015,” ACCC Chairman Rod Sims said.
“It will be alleged that ANZ and the individuals were knowingly concerned in some or all of the conduct.”
The expected charges follow an extensive ACCC criminal cartel investigation.