Australia's Macquarie, ANZ to pay fines over Malaysia currency 'cartel'

Reuters

Published Nov 25, 2016 10:27

Australia's Macquarie, ANZ to pay fines over Malaysia currency 'cartel'

SYDNEY, Nov 25 (Reuters) - Australia's No.1 investment bank Macquarie Group Ltd MQG.AX and top corporate lender Australia and New Zealand Banking Group Ltd ANZ.AX on Friday said they will pay fines totalling A$15 million ($11.12 million) for "cartel conduct".

The banks said in separate statements they would pay the fines after the antitrust agency started court proceedings over foreign exchange contracts for the Malaysian ringgit in 2011.

($1 = 1.3493 Australian dollars)

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