Regulators frown down on pumpers-and-dumpers

Social media is being used to pump up share prices. (Image: Getty)

Wed, 09 Feb 2022

In a sad moment for financial journalists, the Australian Securities Investments Commission (ASIC) lodged civil proceedings against ANZ on Dec 9 last year for an almost three-decade long marketing mishap.For the ANZ case – relating to non-supply of promised bank account benefits to more than 580,000 customers since the mid-1990s – is the last in the long-running ASIC legal series inspired by the Royal Commission into financial services.Established at the end of 2017, the RC filed its final report in February 2019 following a year of...

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