Heavy Hitter Called In To Anz Securities In The Spotlight

ANZ has recruited heavyweight company director David Crawford to help with an expanded review of its involvement in securities lending and its entanglement with failed broker Opes Prime.

Bank Examines Its Role In Securities Lending

A WIDE review of ANZ's funding of the securities lending business has been ordered by chief executive Michael Smith after its exposure to the collapsed stockbroking firm Opes Prime came to light.

Volatility And Broker's Collapse Give Anz $1bn Bad-debt Headache

ANZ is facing about $1 billion in bad debts because of sharemarket volatility, the collapse of broker Opes Prime Group and the likelihood of further market turmoil.

Rush To Liquidate Failed Broker

ADMINISTRATORS to the failed broker Opes Prime say they will recommend that it be put quickly into liquidation when they meet creditors next week, giving them additional powers to investigate the collapse and reverse share transactions.

Water Trust Blames Broker As Crisis Hits Investment

A REGIONAL water authority has admitted it unintentionally bought investments affected by the US subprime crisis and says it may join a class action against its broker.