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Australia: ANZ traders suspended among benchmark-rigging probes

 |  November 19, 2014

Australia and New Zealand Banking Group announced Wednesday that it has suspended seven of its traders amid investigations into alleged benchmark interbank interest rate manipulation.

The suspensions mark the first-ever for ANZ, reports say, and follow the Australian Securities and Investment Commission’s investigation into the matter. The ASIC probed all Australian banks for possible rate-setting violations, following suit with its counterparts across the globe, which cracked down on a global scandal of various interbank benchmarks including LIBOR and Euribor.

ANZ released a statement Wednesday commenting on its internal investigation of the matter, saying that seven individuals have been suspended as it probes their conduct. The bank would not comment further on the matter, however.

Full content: Reuters

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