ANZ and Westpac pair fined over insider trading

The Federal Court fined two commercial bankers formerly employed by ANZ and Westpac $130,000 and ordered to repay a similar amount to securities dealers following an insider trading scam involving options on BRL Hardy shares. The ANZ employee familiar with the BRL takeover offer from Constellation Brands tipped off his mate at Westpac. The mate bought the options over BRL shares.

Advertisement