The Commonwealth Director of Public Prosecutions (CDPP) advised ANZ late yesterday it intends to commence proceedings against the bank for being knowingly concerned in alleged cartel conduct by the joint lead managers of ANZ’s underwritten Institutional Equity Placement of approximately 80.8 million shares in August 2015.
The proceedings relate to an arrangement or understanding allegedly made between the joint lead managers in relation to the supply of ANZ shares. ANZ understands the CDPP also intends to bring proceedings against ANZ Group Treasurer Rick Moscati.
ANZ Chief Risk Officer Kevin Corbally said: “We believe ANZ acted in accordance with the law in relation to the placement and on that basis the bank intends to defend both the company and our employee.”
ANZ is also co-operating with an investigation by the Australian Securities and Investments Commission (ASIC) in relation to the placement.
ASIC is investigating whether ANZ’s announcement of 7 August 2015 should have stated the joint lead managers took up approximately 25.5 million shares of the placement. This represented approximately 0.91% of total shares on issue at that time.
ANZ does not intend to provide further comment at this time.
Following an announcement made by ANZ to the ASX this morning regarding anticipated criminal cartel charges, the ACCC confirms that criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ, ANZ Group Treasurer Rick Moscati, two other companies and a number of other individuals. These charges will be laid following an investigation by the ACCC.
“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 ACCC will not make any further comment until charges are laid.
Background
The ACCC investigates cartel conduct, manages the immunity process and, in respect of civil cartel contraventions, takes proceedings in the Federal Court of Australia.
The CDPP is responsible for prosecuting criminal cartel offences in accordance with the Prosecution Policy of the Commonwealth. The ACCC refers serious cartel conduct to the CDPP for consideration of prosecution in accordance with the Memorandum of Understanding between the CDPP and the ACCC regarding Serious Cartel Conduct.
ACCC also said Criminal cartel charges to be laid against Deutsche Bank
Further to its earlier statement regarding criminal cartel charges expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ and its Group Treasurer Rick Moscati, the ACCC can confirm that Deutsche Bank AG is one of the two other companies against which charges are expected to be laid, along with a number of individuals.
The expected charges follow an extensive ACCC criminal cartel investigation.
The ACCC will not make any further comment until charges are laid.
And ACCC says Criminal cartel charges to be laid against Citigroup
Further to its earlier statements regarding criminal cartel charges expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ, its Group Treasurer Rick Moscati, and Deutsche Bank, the ACCC can confirm that Citigroup Global Markets Australia Pty Limited is the other company against which charges are expected to be laid, along with a number of individuals.
The expected charges follow an extensive ACCC criminal cartel investigation.
The ACCC will not make any further comment until charges are laid.
