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ANZ Group Holdings revealed on Monday that Australia’s corporate regulator is conducting an investigation into the bank for suspected violations of laws related to the issuance of 10-year treasury bonds by the Australian Office of Financial Management (AOFM) in 2023.
ANZ was appointed by the AOFM, which oversees the Australian government’s debt portfolio, to serve as a risk manager for the treasury bonds issuance.
Earlier reports from the Australian Financial Review, citing sources, stated that the Australian Securities and Investments Commission (ASIC) commenced its investigation following a complaint from the AOFM. The AOFM expressed concerns regarding the manner in which some of its debt had been marketed and sold.
In response to inquiries, ANZ acknowledged that ASIC is investigating suspected contraventions of various provisions of the ASIC Act and the Corporations Act. The bank emphasized its commitment to regulatory compliance and stated that it is fully cooperating with the regulator’s inquiries.
Both ASIC and the AOFM have not yet provided comments on the matter.
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