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ANZ reinstates 4 traders suspended over rate-rigging allegations

Australia& New Zealand Banking Group Ltd. will reinstate four traderswho were suspended in 2014 amid the Australian Securities and InvestmentsCommission's probeinto the bank's alleged fixing of benchmark interbank rates, The Australian reported April 14, citingan internal memo from the bank.

ANZ decided to reinstate four of the seven staff who weresuspended after a review found they had not breached the bank's policies orcode of conduct. The four staff member will return to work in the coming weeks.

ANZ had suspended seven staff members involved in marketstrading in November 2014 amid the ASIC's investigation in the alleged riggingof benchmark interbank rates.

ASIC initiated legal action against ANZ in March for itsinvolvement in manipulating the benchmark interest rate.