ANZ has been hit with a $130,000 fine after the Australian Securities and Investments Commission found its online broking arm failed to intervene in a number of suspicious transactions involving New Guinea Energy.

ASIC found that Share Investing Limited, which is owned by ANZ and is formerly known as ETRADE, made bids for a small mining company known as New Guinea Energy on behalf of an investor that were designed to manipulate the price. Share Investing Limited has been given 27 days to pay the infringement notice.