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Big 4 bank confirms ASIC is investigating its 2023 AOFM bond issuance

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By Reporter
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2 minute read

The big four bank confirmed the corporate regulator is investigating its execution of a 10-year government bond issuance.

In a statement on Monday, ANZ said the Australian Securities and Investments Commission (ASIC) is investigating its execution of a 2023 issuance of 10-year Treasury Bonds by the Australian Office of Financial Management (AOFM).

“ANZ was appointed by the AOFM to act as a risk manager in relation to the issuance of the Treasury Bonds,” the bank said.

ANZ understands that ASIC is investigating suspected contraventions of a number of provisions of the ASIC Act and the Corporations Act,” it added.

The bank confirmed it is cooperating ”fully” with ASIC and said it takes compliance with its regulatory obligations “seriously”.

No further information was made public.

The Australian Financial Review, citing sources, reported earlier on Monday that ASIC had initiated an investigation following a complaint from the AOFM.

In an unrelated case, last year the Federal Court determined that ANZ had violated its continuous disclosure obligation during a $2.5 billion institutional share placement in 2015. ANZ has subsequently filed an appeal against this decision.