Super funds put ANZ board, executives on notice over trading scandal
ANZ’s major superannuation investors say they are “concerned by recent allegations” that the bank’s trading team manipulated a government bond auction and inflated the reported volume of transactions.
The warning from the Australian Council of Superannuation Investors – which advises superannuation funds on its voting at annual meetings – comes as investment bank brokers begin to warn that the scandal could lead to regulators forcing ANZ to hold more capital than its rivals.
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