RAM investor action against ANZ important test of bank duties - FMA

Fri, 12 Jul 2019

By Gavin Evans July 12 (BusinessDesk) - Legal action against ANZ Bank by former investors in the failed Ross Asset Management business is an important step in resolving their claims, the Financial Markets Authority says. The action filed by the investor group today is based on investigative work done by the FMA into how the ANZ managed the bank accounts of Ross Asset Management prior to its collapse in late 2012. In April, the Supreme Court backed the FMA’s bid to allow it to share information gained from ANZ during its investigation w...

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