(Reuters) -Australia’s ANZ Group admitted to “unconscionable conduct” in its bond trading services and agreed to pay A$240 million ($159.5 million) in penalties to resolve multiple investigations, the securities regulator said on Monday.

The settlement between ANZ and the Australian Securities and Investments Commission requires Federal Court approval and would resolve five matters across the bank’s Australian Markets and Retail businesses that were subject to separate regulatory probes.

The regulatory violations centre on ANZ staff manipulating markets in a government bond issuance, as well as misreporting of bond trading data, the regulator said.

“It’s clear we have issues within Australia Retail, particularly around our management of non-financial risk,” ANZ Chief Executive Nuno Mato

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