Three top banks deny FMA contact over alleged govt bond manipulation

(Image: NZME)

Fri, 21 Jun 2024

Three of the country’s top four banks say they haven’t been contacted by the financial regulator over alleged manipulation of a government bond sale.The New Zealand Herald reported on Thursday that the Financial Markets Authority (FMA) received complaints last year claiming traders at a major local bank had manipulated the sale of government bonds in 2022, allegedly costing the taxpayer $33 million.The FMA would only confirm the regulator had received complaints but wouldn’t comment on whether any investigation took place.'...

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