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Australia & New Zealand Banking Group Announces ASIC Civil Action Re 2015 Institutional Equity Placement

14 Sep 2018  |  14:07:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ASIC civil action re 2015 Institutional Equity Placement

Australia & New Zealand Banking Group announced that the Australian Securities and Investments Commission (ASIC) has advised them it has commenced civil penalty proceedings against the bank for failing to comply with its continuous disclosure obligations. The Company updated that this relates to an underwritten institutional share placement in August 2015 that is the subject of separate proceedings by the Australian Competition and Consumer Commission. As reported, ASIC alleges the Company should have advised the market that the joint lead managers took up 25.5m shares of the placement. The Company further updated that it will defend these allegations.

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