A Federal Court judge on Friday signed off on $100 million in settlements between Australia’s securities regulator and National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. for attempting to manipulate the market for the bank bill swap reference rate.
Westpac Banking Corp. will go it alone and defend itself at trial against claims by Australia’s securities regulator that it rigged interest rates, after National Australia Bank and Australia and New Zealand Banking Group reached settlements on the eve of trial.
The Australian Olympic Committee lost its challenge to a court ruling that found for Telstra in a consumer and intellectual property battle over the company’s ‘Go to Rio’ ad campaign.
The trial against three of Australia’s biggest banks over alleged interest rate rigging was pushed back again on Wednesday after lawyers for National Australia Bank and Australia and New Zealand Banking Group told the Federal Court they were still in settlement talks with the securities regulator.
Australia and New Zealand Banking Group Ltd. has reached an 11th-hour deal with the securities regulator over allegations of interest rate rigging.