Macquarie and ANZ have agreed to pay a combined AUD 15m ($11m) after admitting to attempted cartel conduct with a Malaysian benchmark rate in 2011. ANZ will pay AUD 9m, while Macquarie will pay AUD 6m of the fine. Macquarie said the conduct involved a single, junior employee, who was terminated in 2012. ANZ admitted to 10 instances of cartel conduct, while Macquarie admitted to 8. The Australian Securities Exchange has also been fined A$1.5m for failing to prevent an attempt by its members to manipulate Euribor rates.
Macquarie and ANZ have agreed to pay a combined AUD 15m ($11m) after admitting to attempted cartel conduct with a Malaysian benchmark rate in 2011. ANZ will pay AUD 9m, while Macquarie will pay AUD 6m of the fine. ANZ admitted to 10 instances of cartel conduct, while Macquarie admitted to 8. The Australian Securities Exchange has also been fined A$1.5m for failing to prevent an attempt by its members to manipulate Euribor rates.