National Australia Bank next in line for ASIC legal action on rate-rigging
National Australia Bank is the latest bank set to be dragged into rate-rigging claims, with the Australian Securities & Investments Commission preparing to take legal action against the $70 billion company.
The Australian Financial Review's Street Talk column revealed on Thursday that ASIC is investigating a specific issue around manipulating the bank bill swap rate (BBSW) from June 6, 2010, which means the regulator must file action by Monday, otherwise it would breach the six-year statute of limitations period.
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