Title
ASIC v Citigroup: An Amber Light For Proprietary Trading
Date of this Version
July 2008
Document Type
Journal Article
Abstract
Investment banks breathed a sigh of relief when the Federal Court dismissed ASIC’s claims in ASIC v Citigroup Global Markets Australia Pty Limited (No 4) [2007] FCA 963. But Citigroup was not an unqualified affirmation of current proprietary trading practices. It highlights several important risks of which investment banks should be aware when advising clients in takeover situations.
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This document has been peer reviewed.