A submission to the Takeovers Panel by the Australian Securities and Investments Commission refutes the ANZ Bank's claim that it did not need to lodge substantial shareholder notices in relation to shares held in companies through its loan arrangements with Opes Prime. The move signals potential enforcement action by ASIC over the holdings that the bank had in dozens of companies through stock lending agreements. A spokesman for ANZ said that while the bank does not share ASIC's view it will implement procedures to disclose substantial shareholder notices.
