Australia’s Banking Watchdog Flexes Jaws in Nip at Citigroup
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SYDNEY, Australia — Australia’s corporate watchdog may be on the verge of getting global investment banks to reassess the way they do one type of business. The Australian Securities and Investment Commission has filed an insider-trading case against Citigroup Inc. It is the first such charge against an investment bank in Australia. The first hearing in Federal Court is set for April 28. Analysts say the case also throws a spotlight on the Australian regulatory body, which has come under fire over its handling of litigation against much smaller foes. “ASIC wouldn’t want to be losing this case. They’ve taken … More : online.wsj.com |