SYDNEY: Australia and New Zealand Banking Group has suspended seven staff involved in markets trading pending a regulatory investigation over fixing of the benchmark interbank interest rates, the lender said on Wednesday.
The investigation is part of a series of reviews by the Australian Securities and Investment Commission (ASIC) to uncover any misconduct in rate setting by banks.
In a statement, Nigel Williams, chief risk officer of ANZ, said the bank was cooperating with the ASIC.
Earlier this year, ASIC censured French lender BNP Paribas and the Royal Bank of Scotland Group after revealing its traders tried to influence the setting of Australia's benchmark interbank interest rates.
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