ANZ Penalised Over $14 Billion Government Bond Deal and Misleading Trading Data
Company: ANZ Group Holdings Limited
Summary
In December 2025, the Federal Court ordered ANZ to pay penalties arising from misconduct involving its management of a A$14 billion Australian Government bond transaction and inaccurate reporting of secondary bond-market trading data. ASIC said ANZ acted unconscionably during the April 2023 bond deal and exposed the Australian Government to significant financial risk. ANZ also admitted that it provided misleading trading-turnover information to the Australian Office of Financial Management for nearly two years, overstating activity by billions of dollars. The Court imposed A$135 million in combined penalties for the institutional and markets misconduct, including a record A$80 million penalty for unconscionable conduct. ASIC estimated the trading misconduct cost the Government up to A$26 million. ANZ admitted the misconduct and cooperated with ASIC before the proceedings were commenced. Source: Australian Securities and Investments Commission https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-314mr-federal-court-orders-250-million-combined-penalties-against-anz/