Expert:  V. M.J Aitken w/ S. Ji, V. Mollica

ASIC brought proceedings in the Federal Court against ANZ for unconscionable conduct and market manipulation in relation to the bank’s involvement in setting the bank bill swap reference rate (BBSW). The BBSW is the primary interest rate benchmark used in Australian financial markets and was administered by the Australian Financial Markets Association (AFMA) during the relevant period.