Regulator scrutinised in Australian cartel case

摘要

Australia's competition watchdog told a packed court last week that it first heard about the capital-raising at the centre of a landmark cartel case involving Australia and new Zealand bankinc group and three global investment banks from another regulator, as the defence sought to question whether procedures had been correctly followed. The defence had previously told the pretrial hearing that it was pressing to see documents detailing contact between the Australian Competition and Consumer Commission and the Australian Securities and Investments Commission, the defence alleged it would be an abuse of power if ASIC had decided not to bring proceedings against a key witness due to pressure from the ACCC.