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Macquarie, ANZ to pay A$15m in rate rigging settlement

ANZ admits to 10 instances of alleged cartel conduct and Macquarie to eight in relation to 2011 ringgit fixing case

Published Fri, Nov 25, 2016 · 09:50 PM
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Sydney

MACQUARIE Bank Ltd and Australia & New Zealand Banking Group Ltd (ANZ) agreed to pay a combined A$15 million (S$16 million) in penalties after admitting to attempted cartel conduct relating to the setting of a benchmark Malaysian rate in 2011.

The Australian Competition and Consumer Commission (ACCC) said in a statement on Friday that Melbourne-based ANZ had admitted to 10 instances of alleged cartel conduct and Sydney-based Macquarie to eight. They offered to pay A$9 million and A$6 million in penalties respectively, the ACCC said.

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