Tag: Bank Bill Swap Rate

November 09, 2018 BY LeapRate Staff

Westpac pays AUD $3.3M fine for Bank Bill Swap Rate conduct

The Federal Court of Australia today has ordered Westpac Banking Corporation (Westpac) to pay a pecuniary penalty of $3.3 million for contravening s12CC of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) through its involvement in setting BBSW in 2010. In reasons for making the pecuniary penalty order, Justice Beach noted the legislative constraint…

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SFC fines
November 20, 2017 BY LeapRate Staff

ANZ and NAB fined $10 million each for 'unconscionable conduct' in setting of the Bank Bill Swap Rate

Australia financial regulator ASIC has announced that it has accepted enforceable undertakings from Australia and New Zealand Banking Group (ASX:ANZ), and National Australia Bank Ltd. (ASX:NAB), to address conduct relating to the Bank Bill Swap Rate (BBSW). Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB) have today entered into enforceable undertakings (EUs) with ASIC…

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